The national government has facilitated the processing of some 203 projects with investments of PHP5.17 trillion with support from local government units (LGUs) which helped in fast-tracking their permits and licenses under Executive Order (EO) 18.
Board of Investments chief investments officer Lubin De Vera Jr. said at the Data Center Association of the Philippine Executive Summit in Makati City Tuesday, these strategic investments were facilitated through the green lane program of the Marcos administration as of April 25.
De Vera said these investments will generate some 301,591 jobs for Filipinos.
Renewable energy (RE) projects had the biggest share, with investments amounting to PHP4.75 trillion from 159 projects that will create 269,751 job employment.
This was followed by investments in digital infrastructure and public-private partnership (PPP) projects amounting to PHP364.88 billion from nine projects, generating 20,523 jobs.
There were four manufacturing projects that were facilitated by the green lane program, with investments of PHP36.91 billion that would hire 3,998 personnel.
Supporting the food security goals of President Ferdinand R. Marcos Jr. were 31 projects in this sector, with investments amounting to PHP18.7 billion and creating 7,319 jobs.
In terms of foreign investments, some PHP1.66 trillion of the total projects under green lane have overseas funders.
In February 2023, President Marcos Jr. issued EO 18 directing all national government agencies (NGAs) and LGUs to establish a green lane that would fast-track the processing of required permits and licenses for projects with significant impact for the country.
BOI’s One-Stop Action Center for Strategic Investments awards the green lane certificates to eligible projects. (With PNA)