Foreign construction companies conquer the local market

Ecuadornews:

The foreign construction companies are the ones that more revenues recorded in the country in 2016, compared to the national ones, according to the statistics of the Department for the Control of Companies of Ecuador.

In the top ten of the construction companies, six are foreign and four are local. The majority are of Chinese origin that opened a branch in Ecuador during the government of Rafael Correa. The first to arrive was Sinohydro Corporation, in 2009.

Among the ten companies, revenues totaled 1,556.49 million dollars: 909.95 million dollars went to coffers abroad. Figures show that foreign construction companies conquer the local market.

But why did the foreign companies win more tenders for the works and not the national ones? Financing for the works came from their countries of origin, which allowed them to win the tender.

The construction guild suggests a change in the law of public procurement so that the hiring is more efficient and with the greater participation of national companies. (I)

Source: http://www.expreso.ec/economia/las-constructoras-de-fuera-conquistan-el-mercado-local-FG1769546