SHANGHAI, Dec. 19, 2023 /PRNewswire/ -- Shanghai Zhenhua Heavy Industries (ZPMC) has officially released the Latin America Sustainability Report detailing the group's sustainable development roadmap and layout, a general review of the business review and achievements in the region, high-efficiency corporate governance and public welfare programs as well as the vision and outlook for future market development.
Consolidating overseas operations and development
Since 2022, ZPMC has been pushing the transition from a business-oriented to an operation-centered international strategy through organizational establishment and talent building. To improve overseas operation and service quality, it has set up eight major regional centers, including the Latin America regional hub built around the Panama Pacific Special Economic Zone.
ZPMC Latin America now has 103 employees, 93 percent of whom are local. Last year, ZPMC's Latin America and Panama subsidiaries signed new contracts amounting to USD 12.92 million in total, a 10.83 percent growth year-on-year.
The regional hub actively supports partners to boost operations. It has further collaborated with Jamaica's KFTL Terminal, undertaking elevator, quay bridge and control system upgrades. These projects with KFTL leverage ZPMC's technical expertise, strengthening its brand reputation through demonstrations of capacity and technology.
Governance efficiency: strengthening the foundations of sustainable development
With a focus on localization and cross-cultural management, ZPMC Latin America has strengthened its global presence and governance. The company has implemented efficiency measures such as forming a think tank and inviting local experts. These experts provide strategic guidance on public affairs, compliance, qualifications, risk management and cultural exchange.
It has actively promoted compliance awareness for employees and partners as well as attaching great importance to production safety – ZPMC carried out 20 safety inspections in 2022.
Embracing cultural diversity as a socially responsible corporation
ZPMC Latin America respects local culture and supports staff development. The company understands the importance of cultural sensitivity in its cross-border operations, and ZPMC's workplace and career programs foster diversity and inclusion.
The company has worked with the Technological University of Panama for five years to introduce technical talents, hosts team building and various sports and cultural activities regularly to promote employee engagement, and advocates gender equality with equal employment opportunities and promotion channels.
The subsidiary's volunteer team has also supported the Metro Amigo children's home with teaching and living essentials.
To learn more, please visit https://www.zpmc.com/default.aspx.