09:05 | 29/06/2017 Companies
(VEN) - Bosch, a leading global supplier of technology and services, ended its 2016 fiscal year with USD 98.9 million (86 million euros) in consolidated sales in the Vietnam market, thus registering a significant growth of more than 40 percent. The total net sales, including sales to non-consolidated companies and internal deliveries to affiliated companies, amounted to USD 322 million (280 million euros).
The past year‘s achievements, spurred by favorable domestic market conditions, set the momentum for Bosch’s positive outlook in the country for 2017.
Vo Quang-Hue, managing director of Bosch Vietnam, said: “Vietnam’s urbanization and industrialization are taking off strongly, and the country is envisioning towards a smart economy. These trends offer great opportunities for us to widen our Bosch product offerings, especially in the areas of connected solutions for smart city and industry 4.0. Furthermore, we will continue with our investment of USD 47 million into the Bosch Gasoline Systems plant in Dong Nai, as well as increase the capacity and competency of our research and development workforce.”
Bosch recorded positive growth in all four of its business sectors in Vietnam: Mobility Solutions, Industrial Technology, Consumer Goods, Energy and Building Technology.
In 2016, Bosch was ranked among the 15 best companies to work for in Vietnam, making it the fourth consecutive year that Bosch is being listed as one of the top 100 employers in the country.
Bosch currently employs more than 3,100 associates in Vietnam, of which more than 40 percent are based at the company‘s two R&D facilities in Ho Chi Minh City: the Bosch Automotive R&D center, and the Software and Engineering R&D Center (Robert Bosch Engineering and Business Solutions Vietnam).
On June 27, Bosch inaugurated its first Internet of Things Conference in Ho Chi Minh City with the showcase of a range of
connected solutions to support Vietnam’s technological advancement, particularly in the areas of smart cities and industry
4.0. The one-day event included interactive panel discussions and an exhibition on innovations in the areas: Mobility, Ports
and airports, Commercial spaces, Residential spaces, Industry 4.0.