Foreign businessmen and chief executive officers in Davos are upbeat on investing in the Philippines especially after the Moody's credit rating upgrade of the country from stable to positive, two Negros Occidental solons said yesterday.

Negros Occidental Representatives Jose Carlos Lacson (third district) and Ignacio Arroyo Jr. (fourth district), who are among the members of President Gloria Macapagal's party in Davos, Switzerland , sent a joint text message to the DAILY STAR.

They said the Philippine's GDP rose from 6.9 to 7.3 percent and the President and her economic team in Davos are flooded with requests for appointments from possible investors.

In a recent forum with the Swiss Asian Chamber of Commerce, the President announced that the Philippines is no longer using the facilities for foreign loans, the two Negros solons said.

The President, it was noted, has expressed confidence that her programs, particularly in infrastructure and education sector, are strongly in place and the Philippines would continue to reap the benefits of these investments regardless of who succeeds her in 2010.

Corporate responsibility rather than profit took centre stage in Davos yesterday, as the annual get-together of business chiefs turned its attention to issues of health, aid and development.

This year's Davos event has drawn nearly 30 heads of state or government, more than 110 cabinet ministers and several hundred corporate chiefs.*CPG

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