From Harvard to PH HARVARD VERITAS

THE Philippines sent one student to the Harvard Business School Class of 2018. It’s getting four graduates back in return.

Two HBS graduates will be joining management consulting

startup. And the fourth and her husband will be taking on positions with domestic businesses.

Many of our HBS classmates focus on traditional post-MBA jobs located in the United States—such as consulting, investment banking and rotational management programs.

But increasingly HBS graduates are taking the school mission to heart (“to educate leaders who make a difference in the world”). These graduates are launching their post-MBA careers in emerging markets across Asia, Africa and Latin America.

When you look at the Philippines, it’s no surprise that MBAs see plenty of opportunities to have a positive impact. The PSA estimates Philippine GDP grew by about 6.6 percent in both 2017 and 2016. Meanwhile, net foreign direct investment (“FDI”) continues to increase, from $3.74 billion in 2013 to $7.98 billion in 2016.

through my wife, Kristine. We met in Philadelphia after she received her MBA from Wharton (University of Pennsylvania). Each visit home to the Philippines, we became more certain that we wanted to raise our family and dedicate our careers here in the Philippines.

A relative’s health emergency called us back to the Philippines earlier than we planned, but we’re so excited to be here now. Kristine is exploring opening a franchise in Metro Manila, while I’ll be helping that OFWs remitted $29.9 billion in 2016, the third highest remittances next to China ($61.0 billion) and India ($62.7 billion). As the Philippines continues to grow, I wouldn’t be surprised to see more Filipinos— like my wife Kristine—seek opportunities the Philippines rather than looking abroad.

One way to accelerate this transformation is to reexamine policies towards FDI. The 2016 OECD Investment Policy Review for the Philippines notes that while the Philippines has “huge potential to attract FDI,” its constitution places restrictions on FDI that “are high by both regional and global standards.” These FDI restrictions prevent the Philippines from tapping into its “tremendous advantages to potential investors: its location in the world’s most dynamic region, a large and fast-growing market, knowledge of English, abundant natural resources, a young population and political stability.”

As the Philippines continues to open up to the world economy, I’m sure more people will fall in love with the Philippines, just as I and three of my classmates have.