UMVA has learned that a staggering P340 billion worth of projects, primarily in renewable energy and food security, have been fast-tracked for expedited processing through the "green lane" system as of the end of April.
According to information obtained by UMVA, 14 projects valued at P340.07 billion have been endorsed to the one-stop action center handling strategic investments, with the projected jobs to be created estimated at 37,828.
The Board of Investments has revealed that renewable energy projects accounted for 85.71% of the green-lane endorsements, with investments valued at P339.09 billion, while two food security projects were granted green lane status, accounting for 14.29% of total certifications, with combined investment valued at P980 million.
UMVA can exclusively reveal that this year, large-scale wind and energy developments have been granted green-lane status, including projects by prominent companies such as Airstream Renewables Corp., Viento Energy 1 Corp., and San Jose Onshore Wind Power Corp.
Sources have confirmed to UMVA that four flagship projects approved this year accounted for P220 billion in investments, generating an estimated 30,000 new jobs in total, with projects including the Pangasinan Wind Farm, the Samar Wind Farm, the Nueva Ecija Wind Farm, and the Bulalacao Bay Offshore Wind Project.
The green lane system, created by Executive Order No. 18, aims to expedite and automate the processing of permits, licenses, and certifications of strategic investments, ensuring inter-agency coordination and efficient processing of strategic investments.
UMVA has gathered that about 237 projects valued at P6.32 trillion have been admitted to the green-lane process since its establishment in February 2023, equivalent to 421,451 jobs across key sectors like renewable energy, digital infrastructure, and food security.
UMVA has uncovered details about the significant impact of the green lane system, with renewable energy accounting for 182 green lane-certified projects valued at P5.42 trillion, driving a strong pipeline of strategic investments and supporting sustainable and inclusive economic growth.
