The Board of Investments (BOI) has endorsed more than ₱5-trillion worth of projects under green lane status by the end of April, with the renewable energy (RE) sector having the bulk of investments.
From January to April this year, the BOI endorsed a total of 26 projects valued at ₱631.22 billion.
In total, since the green lane certifications were first introduced in 2023, the BOI has now certified 203 projects, worth ₱5.17 trillion.
These projects have an estimated employment generation of more than 300,000 Filipinos.
Established under Executive Order (EO) No. 18, the green lane program seeks to expedite, streamline, and automate the processing of permits and licenses for strategic investments.
Specifically, these investments cover “highly desirable” projects, foreign direct investments, projects under the strategic investment priority plan (SIPP), and projects that are found to be promoting innovation.
Since 2023, the RE sector has the biggest share in investments, comprising 78.33 percent of the total number of endorsed projects.
The BOI has approved 159 RE projects worth ₱4.75 trillion to be processed through green lanes, with the potential to create 269,751 jobs.
The rise of investments in this sector coincides with the Marcos administration’s push for more investments in the sector as the country moves to find other sources to serve the needs of its growing population.
The agency’s data also showed that nine projects in digital infrastructure and public-private partnership (PPP) amounted to ₱364.88 billion from nine projects, generating 20,523 jobs.
In the food security sector, 31 projects gained green lane status. With a value of ₱18.7 billion, it is expected to foster 7,319 employment positions.
Also approved were four projects in the manufacturing sector, with investments amounting to ₱36.91 billion while creating nearly 4,000 jobs.
In total, these endorsed projects are set to attract ₱1.66 trillion in foreign investments.