Green lane program nets P4.55T in investments

The Board of Investments (BOI) has recorded P4.55 trillion worth of investments under the government’s green lane scheme following the addition of three new projects that were registered this month.

Latest data from the BOI, the Department of Trade and Industry’s (DTI) lead investment promotions agency, indicate that the list now encompasses 179 projects.

The majority of the investments went into renewable energy projects, comprising 144 or 80.45 percent of the total.

One of the biggest is the P200-billion solar power project of the Pangilinan-led Meralco PowerGen Co. (MGen) and SP New Energy Cor. (SPNEC) subsidiary Terra Solar Philippines, Inc. (TSPI).

Following renewable energy is the food sector that attracted 23 projects, then digital infrastructure with 8, and manufacturing at 4.

The government’s green lane scheme, which was launched back in February 2023 under Executive Order No. 18, is aimed at expediting, streamlining, and automating government approval and registration processes for projects which are deemed strategic investments.

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A vegetable farm in Bulacan and a dairy farm in Laguna by Pangilinan’s Metro Pacific Investments Corp. (MPIC) with investments worth P3.4 billion are also included in the program.

“Inspired by the valuable feedback from our investors, particularly our foreign partners, we are excited to see green lane’s activities taking shape,” BOI director Ernesto C. Delos Reyes Jr. said in a message sent to the Inquirer over the weekend.