BOI to fast-track approval for P336B in projects

The Board of Investments (BOI) last week said that 16 investment projects have been included under the government’s green lane scheme so far, with more than P336 billion worth of investments, most of which are the power sector, seen getting fast-tracked.

Trade Undersecretary and BOI head Ceferino Rodolfo said that the investors of these big-ticket projects have prioritized their inclusion in the government’s accelerated approvals process so they can begin setting up their operations.

“If you look at these green lane projects, most of them are in renewable energy, telecommunication towers and then there are one or two steel companies,” Ceferino told reporters.

Included in the list are the planned floating solar projects in Laguna, which are the P14.9-billion facility by SunAsia Energy Inc., as well as another P14.9-billion project by NKS Solar One Inc., the P6.26-billion SolarAce4 Energy Corp. deal, the P12.49-billion facility by Ac Subic Solar Inc., the P10.94-billion Ac Laguna Solar Inc. deal, a P6.25-billion project by Ingrid2 Power Corp. and a P12-billion facility by GigaWind1 Inc.

The other energy projects are the P10.85-billion wind energy project by Laguna Wind Energy Corp., the P5.29-billion solar project by the Ubay Solar Corp., the P6.94-billion solar project by Magallanes Solar Energy Corp., and the P2.59-billion solar project by the Intramuros Solar Energy Corp.

Also included in the green lane program are the P52.15-billion built-to-suit common towers of the Phil-Tower Consortium Inc., the P50-billion hyperscale data center of the Narra Technology Development Park, the P19.3-billion steel mill project by the SteelAsia Lemery Works Inc., the P50-billion common towers by the EdgePoint Towers Inc., and the P103-billion steel mill project by the Real Steel Corp.

BOI Executive Director Bobby Fondevilla said that the release of permits for these projects will be fast-tracked under the supervision of the BOI’s One-Stop-Action-Center for Strategic Investments (OSAC-SI).“The BOI OSAC-SI will ensure that the citizen charter under the Ease of Doing Business Law commitment of concerned government agencies will be carried out,” he said, citing as an example that the certification from the National Commission on Indigenous Peoples can be issued immediately if the private entity will submit only substantial requirements.

“The minor requirements can be submitted later through an undertaking. In general, processing will be shortened,” he added.

Further, the BOI official said that projects that have complete requirements but are still pending with the concerned agencies beyond the agency’s citizen charter, permits must be issued immediately or else the matter will be endorsed to the Anti-Red Tape Authority for proper action. INQ