MANILA, Feb. 23 -- Removing the foreign investment restrictions on higher educational institutions (HEIs) in the 1987 Constitution can have a big impact on human capital development, Senator Sherwin Gatchalian said.

Gatchalian made the statement in response to statements downplaying that the proposal would have little impact on the Philippine economy.

"'Wag lang natin tingnan 'yung short-term. For example, 'yung education, kapag pumasok dito, let's say, 'yung malalaking foreign universities like Stanford or MIT (Massachusetts Institute of Technology), maliit nga 'yung dadalhin nilang investments pero 'yung kanilang technical know-how na makukuha naman natin, malaking maitutulong sa atin niyan (Let's not just look at the short-term. For ...