The Department of Trade and Industry said Thursday it will review and approve 12 strategic projects with combined capital of P183 billion under Executive Order No. 18 or the Green Lane for Strategic Investments.
It said the EO is meant to expedite, streamline and automate government approval and registration processes for priority investments aligned with the Philippine Development Plan 2023 to 2028.
The DTI’s One-Stop Action Center for Strategic Investments said the projects form part of the P230 billion announced by President Ferdinand Marcos Jr. during his 2023 State of the Nation Address.
DTI Secretary Alfredo Pascual said the renewable energy, digital infrastructure, manufacturing and electricity projects were expected to open up 19,250 jobs for Filipinos.
Among the projects lined up for approval are SunAsia Energy Inc.’s P66-billion, 1,300-megawatt floating solar project in Laguna de Bay; NK Solar One Inc.’s P15-billion, 250-MW floating solar project in Caliraya, Laguna; PhilTower Consortium Inc.’s P52-billion, 7,907 Built-to-Suit Common Towers; and Narra Technology Development Park’s P50 billion Hyperscale Data Center in New Clark City, Tarlac.
Additional projects worth P78.5 billion are also under assessment by the Board of Investments. These include five floating solar projects, a micro-hydro electric plant, a reinforcing steel bars producer and a section mill project.
SunAsia Energy, the first project to receive a certificate of endorsement from the DTI, is a pioneer solar energy company. It will set up floating solar panels on Laguna Lake to produce 1.3 gigawatts with investments reaching $1.7 billion. Othel V. Campos
Pascual said renewable energy projects comprise majority of the strategic investments in the Philippines.
He said EO 18 is the government’s response to improving the ease of doing business in the country.
It covers all national government agencies, government-owned and controlled corporations and other government instrumentalities as well as local government units involved in the issuance of permits, licenses, certifications or authorizations covering strategic investments.
The critical provision of the EO is the simultaneous processing of applications expediting the often-long queue of permits and applications necessary to commence business operations.
President Marcos signed EO 18 on Feb. 23, 2023 to better facilitate the entry of big-ticket projects and make investing in the Philippines easier.
