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Number of Taiwanese Student Studying Abroad Grew 7.12% in 2016

posted Jun 19, 2017, 8:03 PM by Paloma Yang

Early this year, the Ministry of Education (MOE) released the number of Taiwanese students studying abroad for 2016. 

Key Findings:
● Overall, the number of Taiwanese students studying abroad grew 7.12%. The data combines both studying with student visa and without student visa, across all types of programs.

● US continues to be the most popular destination with 21,127 students, in terms of numbers. 

● Germany, Canada, and Australia experienced strong YoY growth, with 61.2%, 37.91% and 32.9% growth respectively. Meanwhile, Norway and Denmark grew from 11 to 20 (81.82%), and 23 to 33 (43.48%), respectively. 

● While the number of most countries either remain stable or fluctuate from year to year, the number of Australia, Canada, and Japan keep growing; nevertheless, that of U.K. is on the contrary. 
Analysis
● Taiwan is still a very strong market for study abroad if you measure it on a per capita basis. However, what the data is showing us is that Taiwanese today are considering a broader range of options than just US, UK, Canada & Australia, expanded to countries in Europe and Asia.

● We feel that the increase in student enrollment to Canada, Australia and Japan is the direct result of the working holiday program between these countries and Taiwan. The data shows a "spillover" effect from the working holiday scheme. Students tend to go over to these countries through the Working Holiday scheme, then they decide that they would like to stay there a bit longer and some of them stay on to pursue more education and eventually, the students may eventually choose to immigrate there.

● The implication of these trends is that it is becoming more challenging for schools to recruit these students as many of these students are bypassing agents entirely. 

Number of Taiwanese Students Studying Abroad

Resources: Ministry of Education, Taiwan
Translated and consolidated by EnvisionRecruit (www.envisionrecruit.com)

Country

2013

2014

2015

2016

YoY (change)

Europe

UK

4380

4135

3965

3,815

-3.78%

France

N/A

1680

842

N/A

Germany

1441

1509

919

1,488

61.92%

Poland

485

465

612

561

-8.33%

Netherlands

370

360

405

400

-1.23%

Austria

383

389

450

419

-6.89%

Russia

144

126

183

181

-1.09%

Sweden

117

130

120

113

-5.83%

Belgium

108

110

121

120

-0.83%

Finland

27

41

39

37

-5.13%

Norway

N/A

11

11

20

81.82%

Spain

N/A

0

270

N/A

Denmark

24

28

23

33

43.48%

Iceland

N/A

0

0

2

Subtotal

7479

8984

7960

7189

-9.69%

Americas

Canada

2883

2648

3500

4,827

37.91%

USA

23250

21867

21266

21,127

-0.65%

Paraguay

N/A

1

1

N/A

Subtotal

26133

24516

24767

25954

4.79%

Asia

Japan

6402

6531

7491

8,444

12.72%

Korea

256

247

257

265

3.11%

Thailand

214

247

207

217

4.83%

Malaysia

76

1035

985

502

-49.04%

Vietnam

N/A

904

994

364

-63.38%

Subtotal

6948

8964

9934

10125

1.92%

Oceania

Australia

7211

8201

10220

13,582

32.90%

New Zealand

1448

1366

1225

1,106

-9.71%

Subtotal

8659

9567

11445

14688

28.34%

Total

49219

52031

54106

57956

7.12%


The Number of High School Graduates in Taiwan Studying Abroad more than doubled in 5 years

posted Mar 14, 2017, 9:36 PM by Paloma Yang   [ updated Mar 14, 2017, 11:38 PM ]

In the academic year of 2015-2016, the number of high school graduates in Taiwan enrolling in overseas bachelor programs is approaching 1,422, 2.26 times the number in 2011, 627, based on the most recent statistic by Ministry of Education in Taiwan. It comprised merely 0.56% of the total number of graduates; however, the percentage has been stably growing since then, regardless the decreasing birthrate and population. The possible reasons are Influence of the globalization and the active recruitment of students in Taiwan by internationally renowned schools, and the uncertainty caused by the changeable education policies.

Here are the key findings.


  1. Over 80% of these students are from the top 6 populated cities while nearly 50% of them are from the greater Taipei area.

  2. There is no traditional top ranked public schools in the top 10 list for the very first time; probably because the change in the national entrance exam system.

  3. The ratio of the top 10 schools to the total number of high school graduates studying abroad is around 38%, similar to previous year.

  4. In 2015, the five schools with the most graduates choosing to study abroad were as follows (ranked in descending order): the private Kang Chiao Bilingual School (152 students), National Experimental High School at Hsinchu Science Park (63 students), the private IVY High School (53 students), the private Washington High School (51 students), and the Taipei Fuhsing Private School (42 students). Among the traditional elite public schools, Taipei First Girls High School had the most number of graduating students studying overseas (30 students), followed by The Affiliated Senior High School of National Taiwan Normal University (26 students). National Wu-Ling Senior High School increased to 20, and National Taichung First Senior High School surged from 5 to 14. Some private schools have a higher percentage of students studying abroad because of the operation mission and/ or the smaller number of students. For example, Kang Chiao Bilingual School had 64% of its graduating students studying overseas in 2015, same as at the private I-Shou International School, with a figure over 50%, while at the Taipei Fushing Private School, it was over 30%. Research indicates that this is also related to the fact that these schools label themselves as bilingual schools, or they have special courses for studying overseas purposes. On the other hand, the National Experimental High School at Hsinchu Science Park was purposefully set up to provide schooling for the families working at Hsinchu Science Park, families with foreign nationality children born to Taiwanese parents or children of returning scholars from overseas; the school had almost 30% of its students studying overseas after graduation.


    Data from Department of Statistics, Ministry of Education, Taiwan, 201405

    Translated and consolidated by EnvisionRecruit, www.envisionrecruit.com



Vietnam's New Policy For Agents

posted Aug 26, 2016, 1:37 AM by Aramely Mendez   [ updated Aug 31, 2016, 9:38 PM ]

In January 2013, the Prime Minister of Vietnam issued a decision entitled Regulation on Overseas Study of Vietnamese CitizensThe third chapter of the decision was of special interest to educational consulting companies.titled e“Management of Overseas Study Services” , this section stated that education agents would subsequently need to meet certain requirements in order to obtain certification. These requirements include the following:

  • “The head of the organization of overseas study consultation services and the staff directly giving advice on overseas study must have a university degree or higher, be fluent in at least one foreign language and  possess the certificate of oversea (s) study consultation profession training granted by the Ministry of Education and Training” (MoET);"
  • The agent  must demonstrate sufficient financial capacity “to ensure the settlement of cases of risk:”having a minimum deposit of VND 500 million (about US$22,400) per office in a commercial bank.

Local Departments of Education and Training (DoETs) are responsible for organizing the necessary training as mentioned above and overseeing the certification process, including a final exam that advisers must pass in order to receive their certification. The purpose of these regulations is to raise the standards of practice by regulating educational consulting companies at some level.

On July 1 2016, these certification requirements were abruptly discontinued, meaning that even more companies could additionally enter already extremely competitive market in Vietnam. Basically going back in time to 2012, the market continues to expand and mature. Through its National Assembly (Vietnam’s legislative body), the government thereby intends to limit bureaucracy and open up the market, giving students and parents more choices when it comes to select an education agent.

For example, eliminating the financial requirement is one less burden for existing companies and one less obstacle for new entrants. This new policy, or rather a return to the state of affairs of four years ago, is a sign of flexibility, a characteristic that the Vietnamese government values and has exhibited time and time and again in education and in many other fields.The role of the parent include doing extensive homework. Without external stamps of approval it is now up to them to decide which company will provide the highest-quality service for a most precious commodity, which is their children’s overseas study experience. They must do so based on their knowledge, comparison shopping, and thier own intuition. In respect to of international educators, the main change will be that they should expect to receive more solicitations from new education agents in Vietnam. This is of course a double-edged sword meaning more choices for students and parents but also potentially more work involved in screening new agent contacts.

There is plenty of help along the way, including professional associations such as NAFSA: Association of International Educators and, in particular, the National Association for College Admission Counseling, or NACAC, which approved a change to its ethical standards permitting the use of commissioned agents in the recruitment of international students in September 2013.The promising trend of rising consumer expectations in Vietnam is truer than ever. There are more parents and students who are now “educated consumers,” and who ask more and better questions based on access to higher-quality information both online and from their network of family and friends studying overseas. At the same time, education agents that value integrity and long-term success over short-term profit should embrace the notion that doing business ethically makes for better business. All in all, this is good news for all who work as members of a recruitment and student services team in facilitating individual investments in education that ultimately result in a public good.

Taiwan's appetite for foreign education

posted Aug 10, 2016, 1:50 AM by Aramely Mendez

The graduation season is upon us and the continuing of students’ education is an important issue faced not only by students. Parents will have already pro-actively put in place plans for the next stage of their child’s education. According to Mastercard’s latest “Survey on Consumer Purchasing Priorities – Education”, Taiwanese parents place great emphasis on the education of the next generation and understand the importance of advance financial planning for their children’s future education. More than 82% of Taiwanese parents establish an education trust fund for their children, the highest number in the Greater China region and higher also than neighboring South Korea and Japan. Furthermore, in order to provide children with the best educational environment half of all parents plan to arrange for their children to study overseas, with the US being the first choice.  

 Head of Mastercard Taiwan Eva Chen says: “According to the 2015 IMD World Talent Report, among the 61 countries surveyed, Taiwan’s talent competitiveness ranked 23rd, higher than Japan (26th), South Korea (31st) and China (40th). Evidently talent development has become the foundation for boosting competitiveness. In addition, the fact that the percentage of Taiwanese parents establishing education trust funds and spending on children’s education is at the forefront in the Asia-Pacific region shows that Taiwanese parents place a great amount of emphasis on the education of the next generation for the creating of a better future.”    

Taiwanese parents place great importance on the education of the next generation, and by ratio plan the most extensively for their children’s higher education fund out of the Greater China Region.Taiwanese parents wish to avoid their children losing out before the race has even begun and so invest heavily in their children’s futures, arranging for them to study a number of extra skills and talents. However, in order to sufficiently prepare for the next generation’s education, only fixed investment in, and prudent application of, an education fund will do. In Taiwan more than 82% of parents establish an education trust fund for their children, a figure that places the country first in Greater China and that is higher than neighboring South Korea (75%) and Japan (61%). This indicates that there is a general tendency for Taiwanese parents to plan ahead with regards to their children’s education.  In addition Taiwanese parents spend on average 17% of monthly household income on their children’s education, second highest in the Asia Pacific region, showing that even in the face of recent economic recession, Taiwanese parents are still fully committed to investing in the next generation.    

 Also, parents are not just committed to planning of education trust funds, they are also heavily involved in the planning of their children’s extracurricular time. Survey results show that nearly 60% of parents in the Asia-Pacific region arrange for their children to attend extracurricular activities. In Taiwan this figure is as high as 70%. The three most popular extracurricular activities are after-school tutoring (35%), foreign language classes (33%), and sports activities (31%). This shows that extracurricular activities attended by Taiwanese children are oriented towards enhancing classroom knowledge and languages so as to boost competitiveness.    

 50% of parents plan to send children overseas to study, America is the No. 1 destination.Education reforms in Taiwan in recent years have led to a glut of university admissions, in turn causing a university diploma bubble. Due to this Taiwanese parents have less and less faith in Taiwan’s education system and the next generation are apprehensive about their future. According to survey results 49% of parents feel that overseas educational systems are superior to Taiwan’s and 21% plan to send their children off-shore to receive their college education. America is the number choice of destinations for both Asia-Pacific and Taiwanese parents for their children’s education.

 Although studying abroad is the ideal educational blueprint that a large number of Taiwanese parents follow for the education plans of their children, 54% still plan for their children to attend local universities due to economic considerations. In addition, tuition fees for overseas study are continuing to rise and overseas study is no longer the only way to gain overseas experience. More and more students are taking part in student exchange programs, or working holiday and volunteer services abroad opportunities in order to develop a global outlook. This has led to a decrease of 21% year on year in the number of parents planning to send their children abroad to study. 

Active participation in further education, emphasis on self-development of competitivity in professional fields.In addition to cultivating the next generation, the Taiwanese public also places great emphasis on investment in personal professional skills so as to maintain a competitive edge in the workplace. Survey results show that in the next year 41% of Taiwanese will attend continuing education courses, considerably higher than the average for Asia-Pacific of 28%, placing the country third in the region. It is also a 4% increase from last year’s figure. The main objectives of those pursuing further education is to increase professional knowledge and to cultivate interests. In addition survey results show that Taiwanese investment in development of personal interests ranks second in the region, showing that Taiwanese are paying more and more attention to their daily lives and increasingly understand the importance of using personal time to develop their own interests.    

Mastercard’s “Survey on Consumer Purchasing Priorities – Education” was conducted during November and December of 2015. The Asia-Pacific regional report addressed 17 markets with 8,779 consumers in possession of bank accounts between the age of 18-64. Overall trends with regards to education consumption habits and values were evaluated. The 17 countries taking part in the “Survey on Consumer Purchasing Priorities – Education” were Taiwan, China, Hong Kong, Japan, South Korea, Philippines, Vietnam, Myanmar, Thailand, Malaysia, India, Singapore, Indonesia, Bangladesh, Sri Lanka, Australia and New Zealand. The survey itself does not reflect on the financial performance of Mastercard.

 

 

More High School Graduates in Taiwan Studying Abroad, 201603

posted Mar 16, 2016, 12:22 AM by Aramely Mendez   [ updated Nov 24, 2016, 8:19 PM by Tina Chuang ]

According to Ministry of Education in Taiwan’s statistics of senior high school graduates studying abroad in the 2014 academic year, the total number is 1288, comprising merely 0.5% of the 255,500 total number of graduates, more than double the number in 2010, 556. Here are the key findings.


  1. Over 80% of these students are from the top 6 populated cities while nearly 50% of them Supposed to do it buare from the greater Taipei area.

  2. The top 5 schools with highest percentage of graduates studying overseas were either purposefully set up for expat families or labeled themselves as bilingual schools specialized in studying abroad counseling.

  3. The number of non-Taiwan nationals attending high schools in 2014 school year in Taiwan increased 56.8% increase compared to that in 2010 school year, from 745 to 1168. The top 5 schools with most non-Taiwanese students are purposely established for exact families or overseas Taiwanese.


Please found the full report as below:


Influenced by globalization and the active recruitment of students in Taiwan by internationally renowned schools, increasingly more graduating high school students are choosing to  study abroad. In 2010, 556 students went to study abroad. That number increased to over one thousand in 2013, and rose further to 1,288 in 2014. Although comprising just 0.5% of the 255,000 total number of graduates, 84% of the students who chose to study abroad came from the 6 major cities, Taipei City (population: 2,704,974), New Taipei (population: 3,971,250), Taoyuan (population: 2,108,786), Taichung (population: 2,746,112), Tainan (population: 1,885,550), and Kaohsiung (population: 2,778,729). Students from New Taipei City and Taipei City accounted for 46% of those who chose to study abroad. This figure not only indicates that studying abroad is more popular with students in the urban areas, but also shows differences in popularity between northern and central/southern regions in Taiwan.  


2. In 2014, the five schools with the most graduates choosing to study abroad were as follows (ranked in descending order): the private Kang Chiao Bilingual School (128 students), National Experimental High School at Hsinchu Science Park (60 students), the rivate IVY High School (58 students), the private Washington High School (48 students), and the private Ming-Dao High School (41 students). Among the traditional elite public schools, Taipei First Girls High School had the most number of graduating students studying overseas (35 students), followed by The Affiliated Senior High School of National Taiwan Normal University (28 students). These two public schools ranked eighth and ninth, respectively, in terms of the number of graduates studying abroad. Taipei Municipal Zhong Shan Girls High School had 24 students studying abroad, while National Wu-Ling Senior High School, National Municipal Jianguo High School, National Taichung First Senior High School, National Tainan First Senior High School, and National Hsinchu Senior High School each had between 10 and 17 graduates studying abroad. Some private schools have a higher percentage of students studying abroad because of the operation mission and/ or the smaller number of students. For example, Kang Chiao Bilingual School had 67.0% of its graduating students studying overseas in 2014. At the private I-Shou International School, that figure was 50.0%, while at the Taipei Fushing Private School, it was 28.1%. Research indicates that this is also related to the fact that these schools label themselves as bilingual schools, or they have special courses for studying overseas purposes. On the other hand, the National Experimental High School at Hsinchu Science Park was purposefully set up to provide schooling for the families working at Hsinchu Science Park, families with foreign nationality children born to Taiwanese parents or children of returning scholars from overseas; the school had 29.1% of its students studying overseas after graduation.


3. During the 2014 school year, the number of non-Taiwan nationality students attending high schools in Taiwan was 1,168. This represented a 56.8% increase compared to the 745 students in 2010. However, this was a mere 0.0015% of the overall number of students (760,000). Of the non-Taiwan nationals, 710 were overseas Taiwanese, 223 Chinese, and 235 were foreign students. In recent years, the number of foreign students has remain stable, around 200–270. In order to expand the sources of student recruitment, some schools have established special courses to recruit overseas Taiwanese students from Southeast Asia. Over the last five years, the number of overseas Taiwanese students has grown by 42.3%. As the relationship between Taiwan and China has stabilized, the number of students coming to Taiwan to live with family or arriving with parents working in Taiwan has increased significantly. The number of Chinese students grew from 25 in 2010 to over 200 in 2014. Due to cultural origins, overseas Taiwanese students, on the other hand, mainly come from neighboring countries. In 2014, Indonesian students, at 225, numbered the most. There were also 224 Vietnamese, 80 Malaysian, and 42 Thai students. These four countries accounted for 80% of overseas Chinese students. Foreign students came mainly from the United States, Japan, and South Korea (70, 65, and 26 students, respectively). These three nations accounted for 68.5% of foreign students.  

4. As a result of operation goals or based on the purpose of the school’s establishment, some schools have a higher number of students who are not Taiwan nationals. In 2014, the five schools with the most non-Taiwan nationals were as follows: (1) National Overseas Chinese Senior High School, which has the express purpose of educating overseas Taiwanese students (324 non-Taiwan national students, 323 overseas Taiwanese students, and one foreign student); (2) the private Chung Shan Industrial & Commercial School, which runs an overseas Taiwanese student course (191 non-Taiwan nationals, 186 overseas Taiwanese students, and five Chinese students); (3) the private Juang Jing Vocational High School (97 non-Taiwan nationals, 93 overseas Taiwanese students, and four Chinese students); (4) the National Experimental High School at Hsinchu Science Park, which provides schooling for children of different nationalities born to Taiwanese parents and children of returning scholars (59 students of foreign nationalities); and (5) the private Tamkang High School (16 non-Taiwan national students, one overseas Taiwanese student, three Chinese students, and 12 foreign students).


high schoolers studying overseas 2016.xlsx






24,485 Taiwanese students studied in the USA in 2015

posted Mar 6, 2016, 11:48 PM by Aramely Mendez   [ updated Mar 7, 2016, 1:31 AM ]

Taiwan and the U.S. are both world leaders in educating children and adults for the 21st century, so it comes as no surprise that the educational links between our two nations are strong. Educational ties between the Republic of China and the United States date back more than a century, from the Boxer Indemnity Scholarship Program which provided grants to Chinese students to undertake degree studies in the US. Many highly skilled people were educated under the program, including three Nobel laureates.         

Today, 24,485 Taiwanese students studied in the U.S. during the 2014-2015 school year, based on the SEVIS data. 

Taiwan and the U.S. share many common values, including a deep appreciation and understanding of the value of a good education. Also similar to the United States, Taiwanese students usually complete 12 years of initial education, progressing through elementary school, junior high school, and senior high school. Some students will attend vocational school in lieu of senior high school. Taiwan transitioned from a system of 9-years of compulsory education to 12-years of compulsory education for all students in 2015. After senior high school, many students go on to attend one of Taiwan's one hundred plus institutions of higher education, a combination of both public and private entities. Taiwanese students are regularly ranked near the top in many international educational assessments. In the OECD's Program for International Student Assessment (2009), Taiwanese students scored 5th highest in math compared to their international peers, and 12th in Science. 



Southeast Asia: Region on the Rise

posted Feb 1, 2016, 7:50 PM by Aramely Mendez   [ updated Feb 1, 2016, 7:50 PM ]

Southeast Asia's 11 countries have a combined gross domestic product (GDP) of $1.9 trillion; a population of almost 600 million people; and an average per-capita income nearly equal to China's, according to Southeast Asia: Crouching Tiger or Hidden Dragon?, an article published by the International Economic Bulletin.

While Southeast Asia has experienced significant economic growth over the past 10 years, it is a region at a crossroads. Its continued growth relies on deeper regional cooperation and integration from a policy perspective, and market-driven intervention by businesses that aspire to expand their footprint across the national borders, according to Destination Southeast Asia: A Joint Pathway to Future Growth?, a 2011 report from consulting firm Accenture.

"Early indicators are promising stable real GDP growth; substantial (and growing) consumer markets; strong labor forces; and steady economic and market transitions across its economies," notes the report. "By taking the right path now, the region will be well on its way to becoming a formidable economic powerhouse by 2020."

Here's a closer look at five of the Southeast Asian countries that will lead the way.

Thailand's top export to the United States is computer accessories, followed by telecommunications equipment and fish. Nearly all exports from Thailand depart from the Port of Laem Chabang, and arrive at the Port of Los Angeles. U.S. imports from Thailand were up three percent year-to-date in 2012, compared to 2011.

Thailand has a GDP worth U.S. $602 billion, classifying the country as the second-largest economy in Southeast Asia after Indonesia. Despite this ranking, Thailand falls midway in the wealth spread in Southeast Asia, as it is the fourth-richest nation based on GDP per capita—after Singapore, Brunei, and Malaysia.

Vietnam may be the fastest growing of Southeast Asia's emerging economies by 2025, with a potential annual growth rate of about 10 percent in real dollar terms, according to a forecast by PricewaterhouseCoopers. That would increase the economy's size to 70 percent of the United Kingdom's by 2050.

Apparel, textiles, and furniture are the top products imported from Vietnam to the United States. "Year-to-date, U.S. imports from Vietnam are up 15 percent compared to 2011, making the country one of the fastest growing suppliers to the United States," notes Rasmussen.

The majority of goods depart from the Port of Vung Tau, and arrive at the Port of Los Angeles. Ocean carriers Maersk Line, Mitsui, and Hanjin have large market shares of import transportation.  Read More

The Ministry of Education (MOE) released the latest study abroad data from Taiwan.

posted Aug 17, 2015, 2:37 AM by Aramely Mendez

l   Overall, the number of Taiwanese students studying abroad grew 2.1%

l   US continues to be the most popular destination with 21,266 students (the data combines both F-1 & J-1 holders).

l   Canada, Australia and Japan experienced strong YoY growth, with 32.2%, 24.6% and 14.7% growth respectively.

 

Analysis:

l   Taiwan is still a very strong market for study abroad if you measure it on a per capita basis. However, what the data is showing us is that Taiwanese today are considering a broader range of options than just US, UK & Australia.

l   We feel that the increase in student enrollment to Canada, Australia and Japan is the direct result of the working holiday program between these countries and Taiwan. The data shows a “spillover” effect from the working holiday scheme. Students tend to go over to these countries through the Working Holiday scheme, then they decide that they would like to stay there a bit longer and some of them stay on to pursue more education and eventually, the students may eventually choose to immigrate there.

l   The implication of these trends is that it is becoming more challenging for schools to recruit these students as many of these students are bypassing agents entirely.

 

Source: Ministry of Education, Analysis & Translation provided by EnvisionRecruit

Continents

Countries

2013

2014

YoY (change)

Europe

UK

4135

3965

-4.1%

France

1680

842

-49.9%

Germany

1509

919

-39.1%

Poland

465

612

31.6%

Netherland

360

405

12.5%

Austria

389

450

15.7%

Russia

126

183

45.2%

Sweden

130

120

-7.7%

Belgium

110

121

10.0%

Finland

41

39

-4.9%

Norway

11

11

0.0%

Spain

0

270

100%+

Denmark

28

23

-17.9%

Subtotal

8984

7960

-11.4%

Americas

Canada

2648

3500

32.2%

USA

21867

21266

-2.7%

Paraguay

1

1

0.0%

Subtotal

24516

24767

1.0%

Asia

Japan

6531

7491

14.7%

Korea

247

257

4.0%

Thailand

247

207

-16.2%

Malaysia

1035

985

-4.8%

Vietnam

904

15

-98.3%

Subtotal

8964

8955

-0.1%

Oceania

Australia

8201

10220

24.6%

New Zealand

1366

1225

-10.3%

Subtotal

9567

11445

19.6%

Total

52031

53127

2.1%


The rising underdog: Cambodia

posted Aug 9, 2015, 11:21 PM by Aramely Mendez   [ updated Aug 9, 2015, 11:21 PM ]

The spotlight is southbound as foreign investors slowly shift their attentions to developing Southeast Asian countries, such as Cambodia. The many challenges and sociopolitical issues that the country used to face has begun to dwindle as the growth rate continues on a steady rise and foreign entities begin to sprout on local soil. “During the past 10 years, Cambodia’s economy has had an average real growth rate of 7.9 per cent and is expected to grow by an average of 6.7 – 7.4 per cent over the next three years as regional trade and investment expands after the ASEAN Economic Community (AEC) is formed at the end of 2015,” said Bangkok Bank President Chartsiri Sophonpanich, in response to a new branch that just opened in Phnom Penh.

“Cambodia also has other attractive features, such as special trading privileges, an abundance of natural resources that are vital to the economy, and low wages. Moreover, the government has a policy of encouraging foreign investment, with no limits on shareholding or capital controls, no restrictions on fund transfers out of the country, reduced income taxes, import and export tax exemptions, supporting international investment in transportation development, as well as revising laws and regulations to keep them up-to-date. These factors will attract more businesses to invest in Cambodia and present ideal opportunities for Bangkok Bank to facilitate and meet the needs of customers doing business in the country,” Chartsiri said.

Low global oil prices will also prove beneficial to developing countries, such as Cambodia.  “Lower oil prices will boost domestic demand in most countries in the region and provide policy makers a unique opportunity to push fiscal reforms that will raise revenues and reorient public spending toward infrastructure and other productive uses. These reforms can improve East Asia’s competitiveness and help the region retain its status as the world’s economic growth engine,” said Axel van Trotsenburg, World Bank East Asia and Pacific Regional Vice President.

As the tide changes, young entrepreneurs are also fanning the startup culture with the perks of affordable living and the gradual rise in the tech community.  Many of these startups are socially driven and are targeted to make a difference due to a plethora of non-profit organizations that have been set up in the past decades. These investments that spark international attention has also contributed to a significant decrease in the commercial sex trade in Cambodia. The kind of progress that the country is experiencing really sets an example for developing nations around the world.

An improving economy and a safer environment foretells the rise in education, where local scholarship programs are being created to help children from families below the poverty line to remain in school. Michelle Obama’s new program to promote education for girls in developing countries also included a trip to Cambodia recently.

 

More students heading abroad

posted Jul 27, 2015, 9:52 PM by Aramely Mendez   [ updated Jul 27, 2015, 10:28 PM ]

By Rachel Lin, Weng Yu-huan and Chen Wei-han / Staff reporters,
with staff writer Mon, Jun 22, 2015


HIGH-SCHOOL GRADUATES:In a development described as detrimental to Taiwan, the number of students choosing to pursue a first degree abroad doubled last year


The number of high-school graduates continuing their studies abroad has more than doubled to 1,288 students last year from 556 in 2010, representing about 0.5 percent of the total, with students from private high schools making up the majority.

The three schools that contributed the highest number of outbound students were Kang Chiao Bilingual School (KCBS) in New Taipei City, with 128 outbound students out of 191 graduates; followed by National Experimental High School in Hsinchu County, with 60 out of 206 graduates; and Ivy High School in Taichung, with 58 out of 373 graduates, according to the Ministry of Education.

Other institutions in the top 10 were Taipei First Girls' High School at No. 8 with 35 out of 1,016 graduates continuing their studies abroad and Affiliated Senior High School of National Taiwan Normal University, ranked No. 9 with 28 out of 956 graduates studying abroad, according to the ministry.

KCBS subsidary Kang Chiao International School assistant director Anne Ramalho said the school has responded to the globalization of education, with more affluent parents aiming to send their children abroad to pursue degrees.

Kang Chiao International School was established in 2009 specifically to prepare students for overseas study and has seen steady growth in enrollment, with more than 145 graduates heading abroad to study this year - the most popular destinations being the US and the UK, she said.

National Experimental High School dean of academic affairs Chuang Tien-ting (莊添丁) said that the school has a bilingual division that has attracted the children of US-born Taiwanese who moved to the nation to work in Hsinchu.

The school's bilingual students prepare for international - mostly US - college entrance exams in their third year of study, and the majority of those students leave for the US upon graduation, Chuang said.

Taiwanese universities should encourage high-school students to pursue college educations at home, as this leakage of talent does not bode well for Taiwan, he said.

Ivy High School vice principal Chen Ching-lung (陳金龍) said the school has a specialized program tailored for students planning to further their education overseas, with 100 percent of students in the program go abroad to study after graduation.

Most students decide to study abroad because their families have overseas assets at destination countries, while some are seeking professionally oriented educations in foreign countries in subjects such as medical science or the arts, Chen said.

The school's program has an average enrollment of 40 students per year, he said, adding that the school exerts little promotional effort to recruit students, as positive word-of-mouth publicity attracts a steady stream of applicants each year.

Taipei First Girls' High School academic registration director Liao Shao-tang (廖紹棠) said universities in the US and in Hong Kong are most favored by the school's students, because most of the world's leading universities are in the US and because the US has a larger Chinese-speaking population than the UK, while Hong Kong-based universities offer students attractive scholarships.

"The languages and culture in Hong Kong are commensurable [with those in Taiwan], while many Hong Kong universities enjoy high world rankings and offers classes taught in English," Liao said.

Affiliated Senior High School of National Taiwan Normal University acting principal Hung Jen-ching (洪仁進) said that the US is the top destination for high-school graduates because there are many top-ranking universities and it has a large Chinese population.

"Children today have a high degree of autonomy and their own life plans," Hung said, citing two students at the school who plan to study at Waseda University in Japan and "have been improving their language ability since the first year of study."

K-12 Education Administration Director Wu Ching-shan (吳清山) said that Taiwanese universities are ranked relatively highly around the world, and although there has been a steady increase of high-school graduates seeking college educations abroad, overseas study might not be suitable for every student.

Most people choose to study abroad after they have finished college, which might be a better age as students are more mature, Wu said.

Students can use digital technology to develop global perspectives and learn foreign languages and a foreign diploma does not always bring success, he said.

Additional reporting by Liang Pei-chi and Lee Chung-hsien

 

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