Chinese have lion’s share of Angolan construction market

Consulting firm Fitch Solutions reckons that Chinese builders have about 41 percent of the construction market in Angola, Lusa reports.

The Portuguese news agency, citing a report by Fitch Solutions, says mainland Chinese companies have 31 percent of the important construction contracts in Angola, and that Hong Kong companies have 10 percent.

The report says Portuguese companies have 14 percent, Japanese companies 10 percent and Brazilian companies 10 percent.

Fitch Solutions says the predominance of Chinese contractors reflected the amount of money the Chinese state and private enterprises are investing in projects in Angola.

The amount of foreign investment in construction projects in Angola is set to rise as the country is making less money from oil, Lusa quotes Fitch Solutions as saying.