STI to pursue overseas expansion
Businessman Eusebio Tanco will once again try to bring the STI Education brand, which is behind one of the largest networks of schools in the Philippines, overseas after its initial attempt in the early 2000s.
Instead of targeting the migrant Filipino market in other countries, which was the strategy of STI in the past, Tanco said STI would put up a real school in Asean countries that would target not only Filipinos overseas but also local residents.
He said the previous strategy did not work because the international schools that it put up became only weekend schools for OFWs.
“Now, we want to put up truly a real school that will not only target the OFWs but also local residents. We want to be competitive and we will compete with other schools and colleges there,” Tanco said.
Tanco said the company was now in talks with possible joint venture partners to bring STI brand overseas.
While he did not identify the target sites, Tanco said the plan was to open one school overseas next year with a $10-million initial investment.