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	Friday, July 08, 2005

Education is Big Business in the Philippines   (mycebu) There are 1,380 colleges and universities in the country, 1,214 of which are privately owned and 166 runed by government.  Some 2.5 million students are enrolled there. Educational standards are varied. According to an Asiaweek magazine survey done back in 2002 which ranked Asia's Best Universities, the acknowledged best schools in the country did not ranked well compared to the other Asian schools.  They are the University of the Philippines  ( ranked 48th),  De la Salle University ( 71st), and Ateneo University ( 72nd). Lately big businesses have been buying up colleges and universities.  Maybe with the tuition deregulation, it is becoming a very good business.  Just of late, Bacnotan Consolidated Industries and Philippine Investment Management Inc., bought Cagayan de Oro College.  Bacnotan also bought 80 percent of Araullo University.  Al Yuchengco, a noted Taipan and head of the RCBC and Malayan group recently also bought Mapua Institute of Technology. Emilio Yap bought up Centro Escolar University while Taipan Lucio Tan ( Tanduay, Philippine Airlines, Fortune Tobacco, Asia Brewery) recently bought University of the East. I guess we don't mind if they make money, and rather hope that big businesses can also provide badly needed capital to upgrade the quality of education here. 6:22:23 PM     comment []   trackback []