Neda chief: Education sector a missed opportunity for foreign ownership

MANILA, Philippines — National Economic and Development Authority (Neda) Secretary Arsenio Balisacan said that education was one of the missed opportunities for possible areas of foreign ownership.

President Ferdinand Marcos Jr. said that he was against foreign ownership of land, media, and energy. Asked what assets would be favorable for foreign ownership, Balisacan said education.

“Education, I think, is long overdue from my perspective. I think we have missed a major opportunity to have the country as a base for higher education in many countries that have looked for branch campuses outside of their country,” said Balisacan in a Palace briefing.

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According to Balisacan, schools from the United Kingdom, United States (US), Australia, and Europe have looked to establish schools in the Philippines but could not.

“And where did they go? They go to countries like Malaysia, Singapore, Thailand, and Vietnam, and we would have been the best candidate because our educational system is something very close to the US, very close to the western countries, and we get the language,” said Balisacan.

Balisacan however, echoed Marcos’ stance of being against the ownership of lands.

“I must say, I would not be in favor of opening that foreign ownership because, for the obvious reason, once you do that, then ordinary Filipinos like you and me would have difficulty owning lands because that will jack up the prices of land,” said Balisacan.

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