THE government’s One-Stop Action Center for Strategic Investments (OSAC-SI) has certified 244 projects worth $111.93 billion (P6.36 trillion) under the Green Lane initiative as of end-July.
The projects are expected to generate 425,454 jobs, with foreign investments accounting for P1.90 trillion of the total.
Year-to-date, OSAC-SI — which is housed in the Board of Investments — has approved 22 projects worth $6.66 billion (P391.84 billion), with an approximate 44,235 jobs.
Renewable energy (RE) accounted for the bulk of Green Lane investments, with 187 projects worth P5.46 trillion and an estimated 276,469 jobs. The projects are concentrated in the Ilocos Region, Central Luzon and Calabarzon.
The figures stood out despite the cancellation of 10 RE projects worth P137.47 billion, following the surrender of their service contracts to the Department of Energy.
Digital infrastructure had 10 projects worth P405.12 billion, including P333.13 billion in foreign investments. These are expected to create 20,393 jobs, support data centers, digital services, and improved internet connectivity.
Public-private partnership, infrastructure, and water projects drew six projects, with investments of P416.75 billion and 113,363 jobs.
The food security sector had 33 projects worth P19.68 billion, expected to create 7,421 jobs and strengthen food production, storage, and supply. These projects are concentrated in the Ilocos Region, Cagayan Valley and Central Luzon.
Manufacturing accounted for seven projects worth P67.04 billion, with an estimated 7,773 jobs. Investments are concentrated in the National Capital Region (NCR), Central Luzon, and Calabarzon.
The pharmaceutical sector had one approved project worth about P450 million with 35 jobs in the NCR.
Various stages
Of the total 244 projects, 166 (worth P5.52 trillion) are in the pre-development stage or 86.7 percent of total investment value, comprising major energy and infrastructure projects.
Another 46 projects worth P368.64 billion are under construction, led by RE and food security projects.
Nine projects worth P190.21 billion are in the pre-operation stage, mostly in RE, while 23 projects worth P286.17 billion are already operational, with digital infrastructure accounting for the largest share of realized investments.
