Projects worth over P600 billion target fast-track certification

The Philippines is moving to accelerate high-impact investments, with P639 billion worth of projects seeking approval under the government’s green lane initiative. This program, designed to fast-track permits and licenses for strategic investments, has drawn significant interest, particularly in renewable energy (RE).

According to the Board of Investments (BOI), 30 projects have applied for green lane certification. Of these, 24 projects in the RE sector account for P584.56 billion, representing 80% of total applications. Two notable RE ventures, backed by Canadian and Singaporean investors, involve a combined investment of P7.5 billion.

The remaining applications include four manufacturing projects worth P54.3 billion and two food security initiatives valued at P220 million.

The green lane initiative, introduced through Executive Order 18 in February 2023, aims to streamline the approval process for investments critical to economic growth. Projects are assessed for their strategic importance and the proponents’ ability to execute them from development to commercial operations.

Since its launch, the program has certified 176 projects worth P4.54 trillion across sectors such as renewable energy, digital infrastructure, food security, and manufacturing. Renewable energy leads the portfolio, with 141 certified projects valued at P4.13 trillion.

The government’s push for streamlined processes underscores its commitment to attracting transformative investments that will drive innovation, create jobs, and boost economic growth. With over P600 billion in applications awaiting approval, the green lane initiative is poised to leave a lasting impact on the country’s investment landscape.