Bermuda VIPs, has been given a mixed review by one of the world's most respected newspapers.

London's Financial Times turned the spotlight on the World Economic Forum, held in Davos, Switzerland from January 26 to February 1.

It criticised the quality of the conference's formal meetings. But it backed the view of Bermuda delegates that the event is invaluable for making contacts behind the scenes.

Bermuda has been attending the forum for about five years.

Finance Minister the Hon. David Saul is already at the event, along with Bank of Bermuda president Mr. Donald Lines, bank president-to-be Mr. Charles Vaughan-Johnson, lawyer Ms Lynda Milligan-Whyte, businessman Mr. Kit Astwood, and head of the Chamber of Commerce international division Mr. Adolf Luttke.

Last year a special guest was Biological Station director Dr. Tony Knap, who spoke on oil spills.

"It's a promotional thing for Bermuda and its international business,'' Dr.

Saul told The Royal Gazette before leaving the Island.

"There are 700 CEOs there, and the opportunity over the last five years has been clearly demonstrated. We've brought business to Bermuda as well as profiled the Island as a business centre.'' The Bermudian team would be organising a reception for 150 people, he said.

Mr. Astwood added: "It's very helpful towards Bermuda's international business and developing Bermuda generally.

"Overseas contact ensures that you keep pace with ideas and technology that ensures Bermuda is a better place to live and work.'' The Financial Times described the event as "five days of public lectures and panel sessions, private seminars, private deal making and plain old schmoozing''.

It listed historic meetings at the forum since it was started by Swiss business school professor Klaus Schwab, 23 years ago.

In 1990, it recalled, the door for German reunification was opened when German chancellor Helmut Kohl met East German leader Hans Modrow at the conference.

Last year South African leaders Nelson Mandela, F.W. de Klerk and Mangosuthu Buthelezi appeared on the same platform. Mr. Astwood recalls meeting the two black leaders.

This year, PLO leader Yasser Arafat and Israeli foreign minister Shimon Peres top the guest list, which includes British Chancellor of the Exchequer Kenneth Clarke, Chancellor Kohl, and the prime ministers of India, Pakistan and Russia.

But, the paper added: "Despite such a glittering cast, the quality of the public seminars and panel sessions is usually mediocre, with professors and politicians merely repeating the positions set out in their latest books or legislative campaigns.'' The real value of the event, it said, was in the way it allowed people to mingle privately in a relaxed atmosphere. Businessmen could rub shoulders with politicians, trade unionists and environmentalists.

And the forum had recently been slimmed down to concentrate more on hard business issues and less on the "political circus''.

"Business leaders come mainly to see each other privately in a relaxed atmosphere free from hangers-on,'' said the paper.

"The great appeal of the gathering to the world's top people is the security.

Thanks to the geography and the meticulous Swiss police, this is a place were even the most nervous politician or plutocrat can take off his bullet-proof vest and mingle freely.

"Organisers work hard to ensure that those who come are able to see whoever they need or want to see, and that everyone who has something to say has an opportunity to say it.

"For all the complaints, the Davos gathering has become an institution. Top people keep coming to it because other top people keep coming to it.''