The Board of Investments (BOI) introduced key amendments to the 2022 Strategic Investment Priority Plan (SIPP) under Memorandum Circular (MC) No. 2024-08 to uplift the Philippine education sector, specifically on international collaboration and academic excellence.
The updated guidelines incorporate global education trends, including the development of education cities and branch campuses.
BOI executive director for industry development services Ma. Corazon Halili-Dichosa said the amendments are pivotal to aligning the education sector with the Transnational Higher Education Act.
“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,” she said,
In line with Republic Act No. 11448 or the Transnational Higher Education Act, foreign higher education Institutions (FHEIs) can now establish branch campuses in partnership with local entities, provided the local partner is at least 60 percent Filipino-owned.
Education City, now included under SIPP’s infrastructure and logistics category, seeks to develop contiguous areas featuring education facilities equipped with digital infrastructure.
These facilities may include research centers, healthcare hubs, athletic complexes, and cultural spaces, designed to enrich students’ learning experiences.
The issuance of the guidelines coincided with the launch of the BOI’s Academe-Industry Matching (AIM!) program in November 2024. AIM! is a workforce development initiative focused on aligning education with industry needs.
The program features three pillars on basic education, technical skills and, higher education.
Dichosa emphasized the Philippines’ demographic advantage, citing its young and adaptable labor force as a key economic driver.
“With a median age of 26 and over 750,000 graduates annually, including 10 to 12 percent in engineering and technology, the Philippines remains an attractive destination for investment,” she said.