Gov aims to attract FHEIs with incentives

The government aims to attract foreign higher education institutions (FHEIs) by offering incentives for them to establish branches or develop education cities in the Philippines.

On Tuesday, December 18, the Board of Investments (BOI) issued Memorandum Circular (MC) No. 2024-08, amending guidelines to include Education City under the infrastructure and logistics sector.

FHEIs that partner with local entities at a 60-40 ownership ratio in favor of the Philippines will receive Tier 1 incentives, including four to six years of income tax holiday and up to 15 years of enhanced deduction regime.

Education City includes the development of contiguous areas for education facilities such as research centers, healthcare services, athletic facilities, and cultural venues, alongside digital infrastructure and auxiliary services.

BOI Executive Director Ma. Corazon Halili-Dichosa emphasized that these amendments will enhance opportunities for international collaboration, empowering students and bridging gaps between academia and industry.

The Philippines' young population and annual production of 750,000 graduates make it an attractive destination for investment and a reliable source of global talent.