The Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) said Thursday the government attracted P4.4 trillion in green lane-accredited projects as of Oct. 15, 2024.
It said the program certified 162 projects across critical sectors such as renewable energy, digital infrastructure, food security and manufacturing.
“The administration is creating a favorable business climate for investments to thrive, which also involves implementing initiatives that contribute to infrastructure development. These include the green lanes for strategic investments,” said OSAPIEA assistant secretary Kristine Joy Diaz-Teston, who read the statement of OSAPIEA Secretary Frederick Go at the Bagong Pilipinas 2024 Forum Thursday.
Alongside the Green Lane initiative, the government is enhancing business processes with the issuance of Executive Order No. 32, which simplifies the permitting process for telecommunications and internet infrastructure.
The Ease of Paying Taxes Law, meanwhile, modernizes tax administration, boosts efficiency and strengthens taxpayer rights.
The updated Public-Private Partnership (PPP) Code simplifies approval processes, encouraging greater private sector involvement in infrastructure development.
Under the Build, Better, More program, 108 flagship infrastructure projects valued at P9.6 trillion are expected to attract public-private investments, focusing on vital projects like roads, bridges, and expressways.
Other notable developments include the fully operational Philippine Digital National ID, which streamlines government services, promotes financial inclusion and eases transactions.
The government is also pushing the CREATE More Bill, which offers tax incentives to businesses and is expected to bring in significant investments.
The Luzon Economic Corridor, launched in partnership with the US and Japan, is set to drive regional investments in infrastructure.
