Study On The Risks And Counter

Africa,a vast continent with a population close to China’s,is rich in natural resources,but its infrastructure is lagging behind and its people are still struggling for living.China’s "go global" strategy and the "One Belt One Road" initiative have brought cooperation into a new era of globalization,a remarkable project connecting China and Africa.Driven by this initiative,the process of free trade agreements and regional cooperation has been accelerated,and China’s trade and investment have developed rapidly.An increasing number of Chinese construction companies have entered the African infrastructure market and sent a large number of technicians to Africa.This has improved construction technology of African countries,promoted technological upgrading and boosted the economy.However,many Chinese enterprises blindly pursue market development and expansion,but ignore or underestimate many serious risks in African projects.The lack of effective risk response strategy,eventually leads to failure,or even loss or forced withdrawal from the market.Since 2013,Nigeria’s political situation has continued to be turbulent,with serious currency depreciation,deteriorating security situation and disease ravages.The risks of Chinese companies in Nigerian construction market have further increased.Faced with this dilemma,many construction companies lack a set of effective and targeted risk management measures,which ultimately lead to serious losses,insolvency,and bankruptcy.In this paper,the problems appeared in two road projects of Chinese companies in Nigeria are analyzed from the perspectives of safety,cost and construction period.In order to make a systematic analysis of project risks in Nigeria,a questionnaire survey was conducted on local and Chinese companies engaged in the construction industry,and risk influencing factors were ranked by sorting,analyzing and summarizing.By selecting,analyzing and summarizing a large amount of historical data,and analyzing cases,questionnaires and historical data,this paper finally identified the main risk factors of Chinese construction companies in Nigeria.As the risk factors are clearly identified,a set of targeted risk response measures are proposed for Chinese construction enterprises based on past experience,practices and data.Through research,this paper analyzes the risks of Chinese construction companies engaged in construction industry in Nigeria and lists corresponding countermeasures.From the political,economic,social and environmental aspects,a set of risk identification and response measures suitable for Nigeria’s national conditions has been established in combination with the implemented projects.The research results of this paper provide a powerful management strategy in advance and in process for Nigerian construction risk identification,play a positive role in promoting the improvement of Chinese overseas project risk management research,and provide certain reference value for Chinese companies involved in infrastructure construction in Nigeria and even African countries.