By Adam E. John
Genpact has signed a five-year strategic partnership agreement with the government of Qingdao to foster the globalization of Chinese corporations. Genpact will use its global expertise to assist local enterprises in adapting to an increasingly competitive international market and preparing them to enter the global arena.
As part of the agreement, the Qingdao government will facilitate the establishment of partnerships between Genpact and domestic multinational enterprises in order to promote the development of Qingdao’s economy.
Genpact’s Qingdao branch will be located in the Qingdao Economic and Technological Development Zone (QDZ). Relevant Qingdao government departments, as well as the development zone’s administrative department, will provide policies that support Genpact in building China’s first domestic global process innovation center. The Qingdao government will also promote the establishment of strategic partnerships between Genpact and local multinational companies in Qingdao, including Haier, Tsingtao Beer, and Hisense. Correspondingly, Genpact will provide high-end services and business models for those companies.
Qingdao is northern China’s only international submarine cable landing station and a major international hub for submarine cable communications. Approved by the State Council in October 1984, QDZ was officially launched on March 28, 1985 with an original area of 15 km2. The State Council approved the land extension to 20.02 km2 on May 13, 2005.
(Tiger Tyagarajan, President and CEO, Genpact): This first-of-its-kind innovation center illustrates Genpact’s unique thought leadership around the science of process based on our Smart Enterprise Processes (SEPSM) framework.
As the partnership progresses, Genpact will work with the Qingdao government to support local enterprises and help with the adoption of advanced service outsourcing best practices.