Green-lane investments reach P5.168T as of April

GREEN Lane-certified projects backed by foreign funding have reached P5.168 trillion, according to the Board of Investments (BOI).

Data showed that, from a total of 203 undertakings between February 2023 and April this year, renewable energy (RE) accounted for 159 with a total cost of P4.74 trillion, followed by digital infrastructure and public-private partnerships with nine projects worth P364.88 billion, manufacturing with four projects worth P36.91 billion and food security with 31 projects worth P18.70 billion.

The RE projects, which comprise 91.86 percent of the investment portfolio, will create some 272,000 jobs, says BOI Director Ernie Reyes, adding that digital infrastructure and PPP account for 7.06 percent and are expected to provide employment for 20,500 people; food security, 0.36 percent with 7,319 jobs; and manufacturing, 0.71 percent with 3,998 employment opportunities.

As for the status of the RE projects, 134 are in the predevelopment stage, 20 are under construction, two are in preoperations and three are operational.

The digital infrastructure and PPP ventures have three in predevelopment, four under construction and two operational.

Food security has 17 projects in pre-development, eight under construction, one in preoperations and five operational.

All four manufacturing undertakings are in the construction phase.

The Green Lane initiative was mandated by Executive Order 18, a government-wide response to enhance ease of doing business by creating Green Lane units in all state offices that will expedite, streamline and automate processes for strategic investments.