MANILA - European businessmen on Tuesday reaffirmed their commitment to invest in the Philippines, even after President Rodrigo Duterte's renewed criticism of the European Union.

The Philippines hosts 600 companies from the EU and its economic ties with the regional bloc has generated half a million jobs, said European Chamber of Commerce of the Philippines president Guenter Taus.

"We reiterate that we are here to extend much needed helping hand," Taus said at the start of a Philippines-EU business summit.

Taus said that to attract more foreign funds, the Philippines should ease investment restrictions.

Duterte again criticized the EU and the UN last week for raising alarm over his war on drugs.

Source: http://news.abs-cbn.com/business/10/17/17/european-businessmen-reiterate-commitment-to-philippines