We welcome the debate between the candidates of the administration and the opposition in a place and under rules that are mutually agreed upon.

We are confident that such an event will be an opportunity for our candidates to show their individual and collective mettle, explain the national situation from the point of view of this government and drive home the message of hope and optimism that is keeping the economy strong and sturdy.

We are for political maturity and responsible voting among the Filipino electorate and we look forward to this opportunity for both sides to bring the issues before the people without undue grandstanding and personal attacks.

With the savings the people will obtain from lower electricity rates, we can expect growth to be more upbeat by the end of the first quarter.

With more money in their pockets, people are enabled to participate in economic activity.

We are also hopeful that lower electricity rates would result in lower commodity prices. This chain effect is a clear social payback from a strong economy.

President Gloria Macapagal-Arroyo formally opened today Dell Philippines’ new customer contact center at the Eastwood Cyberpark in Quezon City, which is expected to help boost further her administration’s jobs creation program.

The Eastwood operations center is Dell’s second customer support center in the country, following the launch of its Mall of Asia operations center in March last year.

Dell Vice President for Global Customer Experience and Support Dick Hunter said President Arroyo’s "continued commitment" in the information and communications technology (ICT) industry as well as the government’s recognition of the business potential of investing in the ICT sector led to Dell’s expanding its operations in the Philippines.

Hunter also cited the "customer-focused talent" of the Filipinos as behind the success of Dell’s operations here.

In less than 18 months of operations in the Philippines, Hunter said Dell Phils. has employed at least 100 people a month. The company plans to increase its staff in the Philippines to 2,600 from the present 1,600 with Dell’s Eastwood Center.

The two Dell centers in the country are part of the company’s P100-million global expansion, Hunter said.

Dell Inc. has been in the computer business since 1984, directly selling standards-based computing products and services.

Dell Philippines also announced today the donation of a computer laboratory to the Quezon City High School as part of its program to prepare the youth in the digital world.

President Gloria Macapagal-Arroyo expressed confidence today that the Philippines’ economic fundamentals are stable and would not be affected by the skidding world markets.

"The world markets may go up and down, but the Philippine economy can no longer be pulled back," the President said in a statement amid reports that the Philippine Stock Exchange index shaved off 263.84 points or 7.9 percent yesterday to settle at 3,067.45, its lowest level in six weeks since the local market started its rally on Jan. 17.

Reports said the local market was affected by the global sell-off that started in China and gathered steam Tuesday.

The President said the fundamentals of growth were firmly laid on the agenda of "fiscal stability, building sturdy pillars for investment, good governance, blossoming enterprise at the grassroots and a vibrant democratic system."

She also mentioned the eight million Filipinos working abroad whose remittances buoyed up the economy, giving "a solid picture of economic stability relatively impervious to the vagaries and glitches in the world economy."

"Our fundamentals are rooted well and spread over a wide range and cannot be overcome easily in a single sweep," the President said.

She also cited the "resiliency of the whole region," including China, which was able to bounce back in a few years after the 1997 Asian financial crisis.

She said that investors continue to be bullish on the Philippines and East Asia, as she expressed confidence that East Asia, a "dynamo of growth," would continue to be a "leader in trade, security and economic consolidation."

The Foreign Chambers of Commerce in the Philippines has congratulated President Gloria Macapagal-Arroyo for initiating the enactment of numerous legislative reforms that further improved the investment climate in the country.

In a letter to the President, the leaders of the Joint Foreign Chambers commended her for pushing for the approval of important laws, including her recent call to Congress to hold a special session to pass several important security and economic measures.

"The Joint Foreign Chambers wish to congratulate you for the passage of legislative reforms needed to improve the investment climate in the Philippines," they said.

The letter was signed by Roger Dallas, president of the American Chamber of Commerce of the Philippines Inc. (AMCHAM); Tertius Vermeulen, president of the European Chamber of Commerce of the Philippines (ECCP); Shinsuke Ike, president of the Japanese Chamber of Commerce and Industry of the Philippines; Richard Barclay, president of the Australian-New Zealand Chamber of Commerce (Philippines); Stewart Hall, president of the Canadian Chamber of Commerce of the Philippines; Hong Woo-Hyun, president of the Korean Chamber of Commerce of the Philippines; and Shameem Qurashi, president of the Philippine Association of Multinational Companies Headquarters, Inc.

During the 13^th Congress, the foreign business leaders said they supported the passage of important economic laws that contributed "to the continued growth and to the restoration of international confidence in the macroeconomic management of the Philippine economy."

They said these laws are Republic Act (R.A.) 9334 or the Alcohol-Tobacco Excise Tax Law; R.A. 9335, the Lateral Attrition Law; R.A. 9337, the Expanded Value Added Tax (EVAT) Law; R.A. 9343, Special Purpose Vehicle Act Extension Law; and R.A. 9361, which amended the EVAT Law by removing the 70 percent cap on input VAT.

"In recent months, Congress also enacted R.A. 9367, the Biofuels Act, and ratified the Bicameral Conference committee report on amendments to the BCDA (Bases Conversion and Development Authority) Act and the One-Time Tax Amnesty to Locators in Special Economic Zones and submitted these for your signature," they said.

The Joint Foreign Chambers also urged the passage of other key pieces of legislation that they noted have progressed significantly in Congress.

These are the Anti-Red Tape Act, Credit Information System Act, Customs Brokers Act Amendment, Human Security Act of 2007, Lending Company Regulation Act, National Tourism Act, and the Personal Equity and Retirement Account Act.

Malacanang expressed confidence today that lower electricity rates would result in lower commodity prices and enable the people to participate in revving up the economic growth.

Press Secretary and Presidential Spokesperson Ignacio R. Bunye pointed out in a statement that with the savings the people will obtain from lower electricity rates, economic growth can be expected to be more upbeat by the end of the first quarter.

"With more money in their pockets, the people are enabled to participate in economic activity," he explained. "This chain effect is a clear social payback from a strong economy."

The National Power Corp. this week lowered power rates by eight centavos per kilowatt-hour. The reduction, which will apply to the Feb. 26 to March 25, 2007 billing period, could go up by 18 centavos in the next 10 months.

More rate cuts, according to Presidential Chief of Staff Joey Salceda, are expected in the coming months, prompting President Gloria Macapagal-Arroyo to describe the power rate reduction as "a timely harvest on the seeds of fiscal discipline and good governance."

The President instructed Energy Secretary Raphael Lotilla to ask the Joint Congressional Power Commission to amend the implementing rules and regulations of the Electric Power Industry Reform Act (EPIRA) of 2001 to speed up the implementation of additional power rate reductions.

She also asked Lotilla during yesterday’s roundtable discussion in Malacanang that the so-called "universal charge" on power consumers, which the government uses to fund projects in small islands, be removed.

"This is part of the great economic gains flowing down to the people," the President remarked.

Bunye stressed that the Filipino people have confidence in the government to plan and act in their best interest.

Malacanang welcomed today the proposed debate between the senatorial candidates of the administration and the opposition in a place and under rules mutually agreed upon by the two political parties.

Press Secretary and Presidential Spokesman Ignacio R. Bunye expressed confidence that such an event will be an opportunity for the administration candidates "to show their individual and collective mettle."

The debate, according to him, would allow the administration’s Team Unity to explain the national situation from the point of view of the government and "drive home the message of hope and optimism that is keeping the economy strong and sturdy."

Malacanang issued the statement in reaction to the challenge of the opposition to a one-on-one debate on key economic issues at Plaza Miranda in Quiapo, Manila.

The so-called Genuine Opposition (GO) recently came out with disparaging full-page newspaper ads disputing data showing that the economy has improved under President Gloria Macapagal-Arroyo’s watch.

Bunye said the administration is looking forward to the debate so that both sides could bring the issues before the people "without undue grandstanding and personal attacks."