THE Board of Investments (BoI) said it has issued green lane certificates to projects valued at P183 billion since the program was launched on July 13.
BoI Chairman and Trade Secretary Alfredo E. Pascual told reporters in a Viber message that the one-stop action center for strategic investments (OSAC-SI) has received 12 applications for green lane processing, of which four were approved.
Mr. Pascual said the four approved projects involve investments in renewable energy and digital infrastructure.
In a separate statement, the BoI said the approved projects are SunAsia Energy, Inc.’s P66-billion 1,300-megawatt (MW) floating solar project in Laguna de Bay; NK Solar One, Inc.’s P15-billion 250-MW floating solar project in Caliraya, Laguna; Phil-Tower Consortium, Inc.’s P52 billion to erect 7,907 Common Towers; and Narra Technology Development Park’s P50-billion Hyperscale Data Center in New Clark City, Tarlac.
The BoI said the remaining eight projects valued at P78.5 billion are currently under evaluation for green lane certification, which would make them eligible for expedited permit processing.
“Among the projects being evaluated are five more floating solar projects, a micro-hydroelectric plant, a reinforcing steel bar producer, and a section mill project,” the BoI said.
Mr. Pascual said the 12 projects are expected to generate 19,250 jobs.
The one-stop shop was authorized by Executive Order (EO) No. 18 issued by President Ferdinand R. Marcos, Jr. on Feb. 23, which gave strategic investments an expedited approval path. The OSAC-SI serves as the single point of entry for all strategic investments and has the power to endorse investors to National Government agencies, local government units, and quasi-judicial bodies for processing permits and licenses.
EO 18 seeks to expedite, streamline, and automate government processes for strategic investments with the goal of attracting more foreign investors.
The BoI classifies as strategic investments the investment pledges made to Mr. Marcos during his travels, as well as those recommended by the Fiscal Incentives Review Board to the Office of the President, foreign direct investment projects endorsed by the Inter-agency Investment Promotion Coordination Committee, and priority projects or activities listed in the Strategic Investment Priority Plan.
For 2023, the BoI has set a target of P1.5 trillion in approved investments. At the end of June, the agency has approved P698 billion worth of investments, up 203% from a year earlier. — Revin Mikhael D. Ochave