Projects worth P4.46T get green lane perks

The Board of Investments (BOI) on Wednesday said P4.46 trillion worth of investments have been certified under the government’s green lane program as of the middle of November, with most ventures belonging to the renewable energy sector.

These investments span 167 projects, 136 of which are in the renewable energy sector.

Investments in food security consist of 22 projects, while digital infrastructure and manufacturing got six and three, respectively.

The green lane program expedites the approval process for “high-impact” projects, according to the BOI.

Two firms recently awarded a green lane certification were the Philippine unit of Thailand-based food conglomerate Charoen Pokphand Foods (CPF) and the Buhawind Energy Philippines (BEP). CPF will invest P10.55 billion for the construction of 20 pig breeding farms across the country, while BEP will build three offshore wind power projects with an initial investment of P694 billion.

In a separate development, the Philippine Economic Zone Authority (Peza) said it registered P62.341 billion worth of investments in November, marking an increase of almost seven times its tally a year ago.

Peza said the value of the investments approved during its board meeting last Nov. 13 indicated a 582.97-percent increase from the P9.128 billion approved in the same month in 2023.

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The November posting brought the year-to-date approvals to P186.098 billion, 32 percent up.

“Surpassing the previous year’s investment acquisition performance is a clear sign of the confidence of both international and local investors in our current economy and policies as charted by President Ferdinand R. Marcos Jr.,” Peza Director General Tereso Panga said in a statement.

“Similar to last year, we are poised to meet the projected investment and expansion target we have set at P200 billion as we close this year,” he added.