In 2008, Bosch established the Robert Bosch Vietnam Co., Ltd, a 100 percent foreign-owned subsidiary, based in Ho Chi Minh City. Bosch Vietnam also has two branches in Hanoi and Long Thanh, Dong Nai province (manufacturing for Gasoline Systems division).
Today, Bosch Vietnam supplies a wide range of technology products comprising automotive components, diagnostic tools and equipment; drive and control technology; power tools; and security systems to the Vietnamese market. Although 2009 was a challenging year for Bosch Vietnam, the company continued to boost its presence in Vietnam by forging new partnerships, expanding its distribution network, and launching innovative products and solutions. This contributed to Bosch Vietnam returning to positive results in the first six months of 2010.
Mr. Vo Quang Hue, Managing Director of Robert Bosch Vietnam Co., Ltd, shared that the Vietnamese market is attractive to Bosch, due to the country's political and social stability, favorable economic regulations for investors and an increasingly available local talent pool. In particular, the current lack of local suppliers for automotive parts and components offers significant potential for Bosch's increased investment in Vietnam's automobile industry.
Bosch started a Continuously Variable Transmissions (CVT) push-belt assembly plant at a temporary facility in Long Thanh Industrial Park, Dong Nai Province, in August 2008. The factory is the second in the world for Bosch. The company is targeting to complete the construction of its wholly-owned Gasoline Systems' plant, located in the same industrial park, by the end of 2010. The new high-tech plant will manufacture automobile push-belts used in CVT. Total investment is estimated at 54 million euros by 2015. Bosch will also establish a Software & Technology Center in Ho Chi Minh City specializing in embedded software development, IT software and mechanical engineering solutions by the end of 2010. Some 500 engineers will be employed by the center by 2015. This is Bosch's first investment of its kind in Southeast Asia.
With human resources as its greatest asset, Bosch Vietnam is likewise committed to the professional development of its employees, or associates, as Bosch terms them. Bosch associates are able to participate in numerous training programs, both locally and worldwide. They also enjoy welfare benefits such as healthcare. As part of talent outreach, Bosch Vietnam works hand-in-hand with the local universities to support vocational education, such as student internship programs in the company./.