Bosch receives prestigious “Friend of ASEAN” award at the ASEAN Business Awards 2017
Award acknowledges Bosch’s social and economic contributions in Southeast Asia
- Bosch first established its Southeast Asian presence in 1919
- Bosch maintains positive outlook on growth and profitability in the region
Jakarta, Indonesia — 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.”
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.
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. Bosch has similar vocational and apprenticeship programs in Malaysia, Thailand and Cambodia.
In Indonesia, Bosch has initiated the campaign “We help make a difference” to heighten awareness of how the company makes the lives of people a little better each day. As part of the campaign, Bosch supported six Indonesian young inventors in mid-2016, through a partnership with the Kick Andy Show, a highly acclaimed national television program, in the form of grants and study visits. These young talents created various innovations that aimed to make a positive difference to society. Early May this year, Bosch also facilitated two (out of the previous six) selected young talents to visit Bosch’s offices and premises in Germany, including the Bosch Renningen Campus to experience innovations that the company is developing.
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.
Closer to home, Bosch and its associates in Indonesia forces in the construction of the Bersinar Orphanage’s residential house. In addition, Primavera through Bosch has committed to provide decent school equipment for the orphanage for the next 5 years (2016-2020). Bosch in Indonesia also supported the Science Film Festival (SFF) initiated by Goethe Institute in 26 cities across the country, in a collaborative effort to inculcate interest in science and technology from an early stage.
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.