The Board of Investments (BOI) said over the weekend it endorsed 176 investment projects worth P4.54 trillion as of Dec. 26, 2024 under the Green Lane initiative.
It expedites approval of high-impact investments in various sectors such as renewable energy, digital infrastructure, food security and manufacturing.
Renewable energy led with 141 projects valued at P4.13 trillion, while digital infrastructure accounted for P352.13 billion across eight projects. Food security projects contributed P14.37 billion from 23 projects, and manufacturing added P36.91 billion from four projects.
“The success of the Green Lane underscores the Philippines’ rising profile as a hub for strategic and sustainable investments. By fast-tracking approvals through EO [Executive Order] 18, we’ve aligned these investments with our national priorities, including renewable energy development, job creation, and economic resilience,” said BOI Investments Assistance Center executive director Bobby Fondevilla.
Six projects worth P39.8 billion were certified in December alone, led by the P12.72-billion Laguna Wind Project in Region 4-A. Of the certified projects, 44 were registered with the BOI, representing a combined investment of P1.93 trillion, while 132 remain active leads worth P2.61 trillion.
The BOI recently granted green-lane access to Buhawind Energy Philippines, a joint venture between PetroGreen Energy Corp. and Denmark’s Copenhagen Energy, for three offshore wind power projects.
With a combined target capacity of 4,000 gigawatts and an investment of P694 billion, these projects are set to operate in Northern Luzon, Northern Mindoro and East Panay.
It said that from construction to operation, the projects are projected to generate over 50,000 jobs for Filipinos.
The BOI noted that liberalizing foreign investment policies and easing ownership restrictions on renewable energy projects boosted foreign participation in Green Lane-certified initiatives.
About 46 are majority foreign-owned, including 30 wholly-owned by foreign companies from Singapore, Thailand, Malaysia and the British Virgin Islands.
The BOI said that in terms of equity contributions, Denmark topped the list with P416.41 billion, followed by the Netherlands with P336.93 billion, Switzerland with P310.74 billion and Singapore with P230.38 billion.
The Green Lane’s implementation streamlined inter-agency coordination, secured local government endorsements and simplified processes through the release of the implementing rules and regulations (IRR) for EO 18.
