SENATOR Sherwin Gatchalian stressed any move to liberalize the education sector should provide opportunities that otherwise are not available in the country such as those in the area of research and development.

The senator emphasized the need to scrutinize the potential consequences and benefits associated with allowing full foreign ownership in the country’s education sector.

“Such analysis should zero in on how such a policy shift could underpin economic growth, and improve the quality of education, particularly in R&D,” he said.

“The legislature is looking at education as a means to drive the economy. Hopefully, by liberalizing education, we can attract foreign direct investments. Will we really attract foreign direct investments in the education sector by allowing full foreign ownership?” Gatchalian asked education stakeholders.

Dr. Maria Cynthia Rose Bautista, former Vice President for Academic Affairs of the University of the Philippines, surmised the country isn’t likely to attract foreign higher education institutions to invest in the country for many reasons.

She pointed out that while the country has a young population, those in the upper and middle classes are too insignificant in numbers that few will be able to afford to pay.

In the case of maritime education, Dr. Bautista mentioned that Europeans, for instance, are unlikely to enter the Philippines due to its vulnerability.

Instead, they will opt to adopt specific schools in the country and accredit them, emphasizing that any move to open the sector to foreign investors should be targeted and not fully liberalized.

But policy analyst Dr. Emmanuel Santos maintained that opening up the education sector would likely attract investments from foreign learning institutions.

He cited the case of Vietnam, which secured from the Royal Melbourne Institute of Technology AUD 250 million in strategic investment funds in education, research, partnerships, and campus infrastructure.

Still, Gatchalian wants to look at the potential amount of foreign investments that the country could possibly attract in the event it decides to open up the education sector.

“I understand there is a great potential for hard investments to come in if we open up and in the process develop other education components such as research and other facets,” he added.