Competition, labor costs hurt African profits
By Wang Wen in Xi'an | China Daily | Updated: 2013-03-05 08:09
Construction firm boosts benefits to retain its Chinese employees
Top International Engineering Corp, or TIEC, believes its profit margin in the African market is declining because of the rising cost of human resources and stiffer competition.
"The company is under pressure from the rising human-resources cost, as few staff members want to work in Africa now," said Pan Lizhi, assistant general manager of TIEC, a construction company based in Xi'an, Shaanxi province.
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