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The Department of Trade and Industry endorsed P336.25 billion worth of investments for fast approval under the “green lane” system in the first 10 months of 2023.
President Ferdinand Marcos Jr. signed Executive Order No. 18 on Feb. 23, 2023 to facilitate the entry of big-ticket projects and make investing in the Philippines easier. EO 18 or the Green Lane for Strategic Investments aims to expedite, streamline and automate government approval and registration processes for priority investments aligned with the Philippine Development Plan 2023 to 2028.
“Under the green lane, the period of processing of permits should not go beyond what is provided under the agency’s Citizen’s Charter provided that complete documentary requirements are submitted and permits can be filed simultaneously,” he said. Other RE projects are the Ayala-led AC Subic Solar Inc.’s project worth P12.49 billion; AC Laguna Solar Inc.’s P10.94-billion project; SolarAce4 Energy Corp.’s P6.25 billion floating solar power project; Ngrid2 Power Corp.’s P6.25-billion floating solar power project; and GigaWind1 Inc.’s P12-billion project in Laguna Lake.
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