The Board of Investments (BOI) has amended its 2022 Strategic Investment Priority Plan (SIPP) through Memorandum Circular No. 2024-08, aiming to strengthen the Philippine education sector by fostering international collaboration and supporting academic excellence.
Key updates include provisions for establishing branch campuses of Foreign Higher Education Institutions (FHEIs) in the Philippines under the Transnational Higher Education (TNHE) Act (R.A. No. 11448). These campuses must partner with local entities that are at least 60% Filipino-owned.
The amendments also introduced “Education City” as a priority sector under the Infrastructure and Logistics category of the SIPP.
The change encompasses the development of contiguous areas with state-of-the-art education facilities, digital infrastructure, and auxiliary services such as research hubs, healthcare, and cultural spaces to enhance the learning environment.
“The amendments are pivotal to advancing the national education agenda,” said BOI Executive Director Ma. Corazon Halili-Dichosa of Industry Development Services.
“The new guidelines will enhance opportunities for international collaboration that would facilitate access to expertise and knowledge relevant to global industry trends, empower students, and bridge the gap between academe and industry.”
The changes align with the BOI’s Academe-Industry Matching (AIM!) Program, launched in November 2024, which fosters partnerships between educational institutions and industries to ensure job-ready graduates equipped for the future of work. The AIM! Program operates under three pillars:
- Pillar 1: Basic Education (K4F) – Focused on early-stage interventions to help students align their educational tracks with industry needs.
- Pillar 2: Skills Development (TRANSCEND) – Partnering with TESDA to update training regulations and provide responsive skilling opportunities.
- Pillar 3: Higher Education (ELEVATE) – Enhancing collaboration between businesses and higher education institutions to cultivate skilled graduates and institutionalize best practices.
“With a young and vibrant population, Filipino talent is the country’s biggest advantage,” Halili-Dichosa emphasized. She cited the 2023 IMD World Competitiveness Report, which ranked the Philippines’ skilled labor as the top factor for its economic attractiveness.
The Philippines, with a median age of 26 years and a population of approximately 116 million, is projected to reach 121 million by 2030. Each year, over 750,000 students graduate, with 10-12% earning degrees in engineering and technology.
The inclusion of Education City and branch campuses in the SIPP seeks to nurture this talent pool while enhancing global partnerships. Digital infrastructure and specialized facilities within Education Cities aim to equip students with advanced skills to meet the demands of a technology-driven workforce.
“These initiatives will not only boost education but also help position the Philippines as a hub for global talent and innovation,” Halili-Dichosa added.
