59 Projects Worth PHP1.9 Trillion Get Green Lane Endorsements

The Board of Investments’ (BOI) One-Stop Action Center for Strategic Investments (OSAC-SI) has granted green lane endorsements to 59 projects worth PHP1.9 trillion as of April 1, according to Department of Trade and Industry (DTI) Secretary Alfredo Pascual.

51 of 59 projects are in the renewable energy (RE) sector, with a total amount of PHP1.57 trillion, Secretary Pascual noted. I Photo: Fred Pascual Facebook

Of this number, 51 projects are in the renewable energy (RE) sector, with a total amount of PHP1.57 trillion, he noted.

Pascual stated that other projects under the green lane include four digital infrastructure investments worth PHP302.16 billion, two food security projects worth PHP29.61 billion, and two manufacturing projects worth PHP3.4 billion.

He emphasized that through Executive Order (EO) 18 signed by President Ferdinand R. Marcos Jr. in February 2023, OSAC-SI provides endorsement to strategic investments for green lane treatment in concerned national government agencies and local government units.

The president has stated that in government, services must be fast, projects must be completed on time, deadlines must be met as scheduled, and distress calls must be responded to promptly.

He also emphasized that red tape must be replaced with a red carpet in any government office, Pascual stressed.

According to the DTI chief, the latest projects endorsed for green lane treatment are Prime Infra’s 1,400-megawatt Pakil Pumped Hydroelectric Power Project and the 600-MW Wawa Pumped Storage 1 Hydroelectric Power Project, with investment values of PHP 296 billion and PHP 143 billion, respectively.

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