Includes bibliographical references.

Chapter 1. Comparability and equivalence -- Chapter 2. Accreditation -- Chapter 3. Efficiency and effectiveness -- Chapter 4. Rationalization of public higher education -- Chapter 5. Governance (public and private schools).

The Philippines is gearing up to be one among the dynamic dragon economies of East Asia and to meet the challenges of the twenty-first century. The inappropriate economic policies of the past that had led to unsteady and slow economic growth are being abandoned and replaced with strategies that would encourage as well as force Filipino producers to be more productive and competitive in both the domestic and international markets. Investments in physical infrastructure, such as power, roads, and airports that had virtually stopped during the turbulent years of the 1980s have been resumed. In the area of human capital, the education planning and administrative offices are being strengthened with the creation of the Commission on Higher Education (CHED) and the Technical Education and Skills Development Authority (TESDA) so that they can more effectively direct education/training activities toward meeting the labor market and social demands of the near future. The law provides these agencies with powers and funding that will allow them to pursue their goals.