Solar project first to get endorsement under

By Othel V. Campos

THE Department of Trade and Industry awarded the first certificate of endorsement under Executive Order 18 to renewable energy company SunAsia Energy Inc. during the launch of the Green Lane for Strategic Investments at the Sofitel Philippine Plaza Manila Thursday.

Underscoring the country’s bid as the next investment destination in Asia, Trade Secretary Alfredo Pascual said SunAsia Energy would set up floating solar panels on Laguna Lake to produce 1.3 gigawatts on $1.7-billion investments.

“The signs are emerging. Total foreign investments approved for incentives in the first quarter of 2023 amounted to P173 billion, a signifi-

Green Lane

cant increase from just P9 billion in the same quarter of last year,” Pascual said. He said the various investment missions so far yielded P3.5 trillion of leads for the country. The public and private sectors generated leads from investment trade roadshows in Singapore, Indonesia, the United States, Japan, China, Thailand and Europe, he said.

Pascual said EO 18 is a governmentwide response to improve the ease of doing business in the Philippines.

The EO is meant to expedite, streamline and automate government approval and registration processes for priority investments or strategic investments aligned with the Philippine Development Plan 2023-2028, he said.

It covers all national government agencies, government-owned and controlled corporations and other government instrumentalities as well as local government units involved in the issuance of permits, licenses, certifications or authorizations covering strategic investments. which owns the 1,000-megawatt Santa Rita combined cycle power plant, was reviewing its options. The Sta. Rita natural gas plant is one of the four gas-fired power plants of First Gen with a combined capacity of 2,017 MW. First Gen is one of the country’s biggest power players with natural gas, hydro, wind and solar in its power generation portfolio.

The DTI together with the Board of Investments were mandated under EO 18 to launch a One-Stop-ActionCenter for Strategic Investments as a single point of entry for all strategic investments.

“With this EO, the DTI, through the BOI’s One-Stop-Action-Center for Strategic Investments, can effectively collaborate with key stakeholders and uphold the current administration’s goal to promote ease of doing business for both local and foreign investors,” Pascual said.

Alena Mae S. Flores

DBP grants P1.1-b loan to Pueblo de Panay

STATE-OWNED Development Bank of the Philippines granted an initial P1.106-billion loan to a Capiz-based real estate developer for the expansion and improvement of a master-planned development venture in Western Visayas, a top executive said Thursday.

DBP president and chief executive Michael de Jesus said the credit assistance to Pueblo de Panay Inc. would finance the construction and improvement of various projects within the 670-hectare mixed-used township in Roxas City, which is touted to be the first and largest of its kind in the region.

“Through this partnership, DBP aims to hasten progress in the housing sector, stimulate job creation and foster economic growth in one of the fastest-growing cities in the Philippines,” de Jesus said.

“This partnership further reflects DBP and PDPI’s shared vision of driving progress and building vibrant and sustainable communities throughout the country,” he said.

DBP is the eighth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; environment; social services and community development. Julito G. Rada

Aboitiz Land taps sister firm to work on Meadow Village

ABOITIZ Land, the real estate arm of the Aboitiz Group, tapped its sister company Aboitiz Construction to conduct site development works for residential enclave Meadow Village in Lima Estate, Batangas. Aboitiz Construction said in a statement Meadow Village is part of The Villages at Lipa, a 49-hectare residential enclave that provides a selection of spacious lot sizes ranging from 250 to 1,500 square meters.

The company said the 11.7-hectre project is slated for completion by June 2024. It plans to hire close to a hundred manpower at peak, mostly local hires if available.

“We are glad to undertake this project for our affiliate Aboitiz Land. Through this, we will be able to strengthen our capabilities in light industries with focus on site development. More importantly, this is aligned with our goal of contributing towards economic growth while helping other businesses to succeed,” said Aboitiz Construction vice president Levi Agoncillo.

Once completed, the project will contribute to Aboitiz Land’s commitment to building distinctive and high-quality communities that offer lasting value for customers and stakeholders. Jenniffer B. Austria