Around a hundred projects with a total investment amounting to PhP3 trillion across multiple sectors are now “green-lane certified.”
President Ferdinand R. Marcos Jr. announced this as he highlighted the country’s economic status and prospects during his third State of the Nation Address (SONA) at the Batasang Pambansa on Monday.
The President said that despite the headwinds the nation has faced, it has stayed the course and continues to exhibit healthy signs of post-pandemic resilience comparable to other strong economies in the region.
“To sustain the country’s economic gains, we are promoting investment-led growth. We have set in motion policies and programs to create an environment conducive for businesses to thrive, like reforms in the capital markets, and the implementation of ‘green lanes’,” the President said.
“As a result, we have ‘green-lane certified’ around a hundred projects with a total investment of about PhP3 trillion across the sectors of renewable energy, digital infrastructure, food security, and manufacturing,” he added.
President Marcos said the Philippine financial system remains robust and resilient, noting tax and non-tax revenue collection were also efficient and on pace with the rejuvenated economy.
For the past two years, government-owned and controlled corporations (GOCCs) remitted dividends to the National Government with a combined tally exceeding their contributions in 2022, he reported.
“To build on these, and guided by strong fiscal discipline, our proposed government budget for this year was crafted with utmost care, diligence, and meticulous attention,” the President announced.
“We look to the cooperation of our colleagues in the legislature, not only that our proposed National Budget be approved in your usual timely manner, but that it be adhered to as closely as possible,” he added.
The Chief Executive also said he expects all agencies to ensure that every centavo allocated for government projects is judiciously spent on urgent priorities and socially impactful programs. PND
