No reason for European businesses to leave the Philippines —ECCP

There is no reason for European businesses to leave the Philippines despite recent tirade of President Rodrigo Duterte, the European Chamber of Commerce of the Philippines (ECCP) said Tuesday.

"There's no reason for us to leave the country or to think that investments are not coming," ECCP president Guenter Taus told reporters on the sidelines of the EU-Philippines Business Summit in Parañaque City.

Last Thursday, Duterte told diplomats from the European Union to leave the coutnry within 24 hours. "Now, the ambassadors of those countries listening now. Tell me, because we can have the diplomatic channel cut tomorrow. You leave my country in 24 hours. All. All of you. You must have taken the Filipinos for granted."

The Palace clarified the next day that there was no directive backing the President's statement.

"As I said, everything comes in cycle. It goes up and it goes down. We've heard it before, it has not had much effect on us doing business on the ground. So let's just keep it as such," Taus said.

"I think we're getting immune to certain stuff," he said, noting that foreign businessmen focus more on economic fundamentals than on politics.

"We do not mingle in politics. That's for the politicians to do. We see to it that business gets addressed and gets addressed adequately," Taus noted. — VDS, GMA News