Bosch, a global supplier of technology and services, has been awarded the Friend of ASEAN accolade for breaking barriers, and making remarkable social and economic impact in Southeast Asia, during the 2017 ASEAN Business Awards (ABA). Organised by the ASEAN Business Advisory Council (ASEAN-BAC) in early September, the ABA is an annual awards programme which recognises outstanding enterprises in the ASEAN business community.
“Southeast Asia is one of the fastest-growing markets for Bosch. As such, we have invested heavily over the years to continue our expansion trajectory here,” said Martin Hayes, President of Bosch Southeast Asia. “Receiving such an award is timely for us as we approach a hundred years since establishing our presence here. We remain committed in helping the region grow with our technology and services for the next hundred years and more.”
Today, the company employs more than 7,400 associates in the region and expects to ramp up hiring as it continues to evolve its portfolio of product and service offerings, especially in the Internet of Things (IoT). Since establishing its presence in Southeast Asia in 1919, the region has evolved to become an important location for the company’s manufacturing production, R&D, software innovation and business process outsourcing activities.
In 2016, Bosch invested over 120 million euros to implement its localisation strategy as a testament to its ASEAN roots. This has enabled the company to develop products and solutions customised to meet the unique needs of Southeast Asian markets. Its investments include the opening of a fourth business hub in the emerging city of Cagayan de Oro in the Philippines. Across the region, Bosch has been building up its capabilities for developing software solutions; enhancing production facilities for the manufacturing of automotive parts and power tools; and expanding business communication centre services. With the advent of IoT, Bosch sees connected solutions and e-commerce as potential growth drivers.
Bosch’s commitment in the region is also reflected in its philanthropic approach. With a focus on education, Bosch provides learning tools, scholarships, and develops curriculums with vocational institutes and tertiary institutions to raise the education standards and skills of students and the local workforce across Southeast Asia. For example, the Bosch Technical Industrial Apprenticeship (TGA) set up in Vietnam offers apprenticeships in mechatronics. Since its introduction in 2013, Bosch TGA has established around 93 apprenticeships to date. Bosch has similar vocational and apprenticeship programmes in Malaysia, Thailand and Cambodia.
Bosch’s confidence in Southeast Asia mirrors the sentiment of other companies operating in the region. In the third and most recent edition of the EU-ASEAN Business Sentiment Survey, European businesses continue to see the region as a dynamic growth market. According to the survey, three quarters of European businesses expect an increase in profits in Southeast Asia for 2017, while 71% confirmed that the region has become more important in terms of global revenues over the last two years. Given such indicators, 94% of European businesses plan to expand or maintain their current levels of operations and headcount in Southeast Asia.
Robert Bosch South East Asia (SEA) is a regional subsidiary of the Bosch Group, representing the group’s interests in Southeast Asia, where it is present in all ASEAN member countries. Business operations in these countries report to Robert Bosch SEA, located in Singapore. Bosch has been in Singapore since 1923, with diversified businesses including in software and systems solutions. The Asia Pacific headquarters for its Automotive Aftermarket, Security Systems and Bosch Software Innovations business divisions, as well as operations for Corporate Research and Advance Engineering, and Information Technology, are part of Robert Bosch SEA.
www.bosch.com
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