EUROPEAN companies are re-diverting and holding off plans to expand investments in the Philippines, an official said on Wednesday, citing political concerns, but did not name the companies.

One of the two companies received a directive from its headquarters in Europe to shelve the plan to double its investments in the Philippines, Florian Gottein, executive director of European Chamber of Commerce of the Philippines (ECCP) said during the press launch in Makati City of the Asean-European Union (EU) Business Summit.

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