More than 90 projects, collectively worth about PHP 2 trillion, are in line to obtain green lane certificates from the One-Stop Action Center for Strategic Investments (OSAC-SI) under the Board of Investments (BOI), with the majority of these projects in the renewable energy (RE) sector, according to BOI Director Ernesto delos Reyes Jr.
Delos Reyes emphasized that this pipeline of investments would add to the current PHP4.3 trillion worth of projects already endorsed by OSAC-SI for green lane processing through national government agencies (NGAs) and local government units (LGUs).
Executive Order 18, which established OSAC-SI at the BOI, allows for the certification of strategic investments through green lanes to expedite project approvals, minimizing delays in acquiring necessary licenses and permits from both NGAs and LGUs.
Delos Reyes noted that with most green lane-certified projects focusing on RE, the BOI is now pursuing projects in other sectors, particularly manufacturing, to apply for green lane status.
To streamline the process, BOI is considering placing a minimum threshold of PHP3 billion on investments eligible for green lane certification. However, Delos Reyes clarified that projects with significant economic impacts, such as job creation and innovation, may still be considered even if they require smaller capital investments.
He highlighted the Philippines’ abundant natural and human resources but pointed out that competitors in the region are attracting more investors due to their business-friendly environments.
“The establishment of green lanes is part of the national government’s ongoing efforts to dismantle obstacles faced by investors when doing business in the country,” he added.
