DTI-BOI green lane certifies 31 food security projects worth P18.7B
In a statement, the DTI said the approved 31 food security projects are worth P18.7 billion in investments and are expected to generate over 7,000 jobs.
In February 2023, President Ferdinand "Bongbong" Marcos Jr. issued Executive Order 18, which mandated the creation of green lanes as part of efforts for ease of doing business and promoting strategic investments.
Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues.
Strategic investments are those which are aligned with the Philippine Development Plan or any similar national development plan and can be characterized by: significant capital or investment to the country; consequential economic impact; positive impact on the environment; significant contribution to the country's balance of payments; with complex technical processes and engineering designs; and will improve the country's infrastructure capabilities.
The DTI said the food security projects range from modern breeder farms to a major coconut processing facility.
The Trade Department said strategic investment projects will boost local food production while stimulating employment in agriculture and agribusiness.
The agency added that a single coconut processing facility alone is projected to employ 4,725 workers, while a set of breeder farms is expected to create 1,009 jobs.
"Our drive for food security goes hand in hand with creating sustainable jobs for Filipinos. This initiative directly addresses President Ferdinand Marcos Jr.'s directive to strengthen local production and lower food costs for Filipino families," said Trade and Industry Secretary and Board of Investments (BOI) Chairperson Cristina Roque.
Broken down, the DTI said 31 projects consist of the following: 17 breeder farms, eight fattening pig production facilities, a feed mill, a cold storage facility, a greenhouse vegetable production, an integrated dairy farm, a wean-to-finish farm, and a coconut processing facility.
The Trade Department noted that 17 of these projects are in the pre-development stage, seven are under construction, six are already operational, and one is in the pre-operational status.
Since its launch in February 2023, the Green Lane initiative has approved 222 projects worth a combined P5.75 trillion in investments through the DTI-BOI's One-Stop Action Center for Strategic Investments.
Collectively, these projects are expected to generate over 319,000 jobs.
Of the 222 Green Lane projects, 176 are in renewable energy, 31 in food security, nine in digital infrastructure and public-private partnerships (PPP), and six in manufacturing. — VDV, GMA Integrated News
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