Green Lane-Certified Investments Reach P4.13 Trillion — BOI

Investments certified under the Philippines’ green lane initiative have hit P4.13 trillion, more than a year after the government introduced Executive Order No. 18 to streamline the approval process for strategic projects, the Board of Investments (BOI) reported Thursday.

The green lane certification, created in February 2023 under President Ferdinand Marcos Jr.’s order, is designed to fast-track the issuance of permits and resolve key issues for investments aligned with national development plans.

Since the executive order’s approval, 126 projects have been endorsed for green lane status, the BOI stated. These projects are considered strategic based on their significant economic impact, contribution to the country’s infrastructure, or alignment with environmental and technological goals.

The renewable energy sector leads the way, securing P3.74 trillion in investments across 114 projects. The digital infrastructure sector follows with P346.33 billion, while food security and manufacturing sectors attracted P4.14 billion and P29.61 billion, respectively.

Trade Undersecretary and BOI Managing Head Ceferino Rodolfo emphasized the initiative’s role in making the Philippines a competitive hub for sustainable investments, stating, “With over P4 trillion in investments already certified, we are setting a clear path towards renewable energy growth, job creation, and reducing our carbon footprint.”

In September 2024 alone, 11 projects totaling P895.76 billion were certified, including a P289 billion offshore wind power project in Ilocos Norte. Key projects also include three offshore floating wind farms, part of a Filipino-Danish partnership, and major solar power ventures by Aboitiz Power and Nexif Ratch Energy Investments.

These certified investments are expected to bolster renewable energy capacity, cut carbon emissions, and generate local jobs, aligning with the country’s Power Development Plan.