Bosch receives prestigious “Friend of ASEAN” award at the ASEAN Business Awards 2017

Manila, Philippines / Petaling Jaya, Malaysia — Bosch, a leading 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).

Organized by the ASEAN Business Advisory Council (ASEAN-BAC) on 6 September 2017, the ABA is an annual awards program which recognizes outstanding enterprises in the ASEAN business community.

“We are truly honored to be recognized as a Friend of ASEAN. 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. He added, “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 around 2,700 associates in Malaysia with an expectation to ramp up hiring as it continues to evolve its portfolio of product and service offerings, especially in the Internet of Things.

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.

Bosch reinforces focus on Southeast Asia

In 2016, Bosch invested over 120 million euros to implement its localization strategy as a testament to its ASEAN roots. This has enabled the company to develop products and solutions customized to meet the unique needs of Southeast Asian markets.

As the region continues to gain importance as a global manufacturing hub, Bosch has set up a new automotive component manufacturing plant in Thailand that will commence production by end 2017. Other investments included 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 center services.

With the advent of IoT, Bosch sees connected solutions and eCommerce (http://www.lazada.com.my/bosch-official-store) as potential growth drivers that will be key in fueling the company’s next wave of success in the region.

Making a difference in the region with education

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 Industrial Mechanics and Mechatronics. Since its introduction in 2013, Bosch TGA has established around 93 apprenticeships to date. In 2016, the Bosch TGA program was introduced in Malaysia, offering apprenticeships in the fields of Mechatronics and Logistics Management. Bosch has similar vocational and apprenticeship programs in Thailand and Cambodia.

The philanthropic spirit is also inculcated and encouraged to all Bosch associates. During the relief and reconstruction phases after Typhoon Haiyan struck the Philippines, Bosch as a company, its associates, and its associate-driven charity Primavera, donated cash, as well as constructed classrooms and a library in Cebu. In Cambodia, Bosch associates joined the Habitat for Humanity in its Habitat Young Leaders Build project to fix roads and houses for an underprivileged community.

Optimism for Southeast Asia keeps investors bullish

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, findings show that European businesses continue to see the region as a dynamic growth market.

According to the survey, majority of European businesses (75 percent) expect an increase in profits in Southeast Asia for 2017, while 71 percent confirmed that the region has become more important in terms of global revenues over the last two years. Due to such indicators, 94 percent of European businesses plan to expand or maintain their current levels of operations and headcount in Southeast Asia. Majority of respondents (86 percent) indicated that their level of trade investment in the region would increase over the next five years.