Bosch expands operations in Vietnam

The world’s leading technology and services supplier Bosch has announced that it will continue expanding its operations in Vietnam following success in 2012.

Last year, the German group’s global sales reached US$68.3 billion (up 1.9 percent against 2011), with Asian sales fetching US$16.4 billion. 

In Southeast Asia alone, its revenue was US$912.6 million, of which US$286.4 million came from the Vietnamese market, up 31.3 percent.

At a press briefing in HCM City on June 26, Vo Quang Hue, Managing Director of Bosch Vietnam, said Bosch is the largest European investor in Vietnam, with its facilities operating in Hanoi, HCM City, Danang and Dong Nai. 

Sales of its products last year saw growth rates of between 14 and 40 percent, making Vietnam the group’s second key market in Southeast Asia. 

Bosch considers Vietnam as its strategic investment destination in Southeast Asia, said Hue. 

Despite the impact of the global economic recession, the number of the groups employees increased 36 percent in 2012 to 1,200. 

In 2013, Hue said Bosch Vietnam will market new products and solutions and open new distribution networks across the country. 

In the next 3-4 years, Bosch Vietnam is planning to hire up to 500 research and development engineers.

In the future, the group will help build vocational training centres meeting German standards, to supply human resources to the company.

Source: VOV on June, 26, 2013

Hong Kong Group invests US$200 million in garment project in Vietnam

The TAL Group from Hong Kong plans to invest US$200 million to produce fabrics, garments and textiles in Vietnam. 

 

This is the second project of its kind in Vietnam.
During a recent working session in Hanoi with Deputy Minister of Planning and Investment (MPI), Cao Viet Sinh, TAL Hong Kong Development  Director Roger Lee said that his group wants to expand its investments in Vietnam with a US$200 million project to manufacture fabrics, garments and textiles.
The products will be produced using modern technologies that do not cause pollution and the company will ensure environment standards, he said.

Lee said that the group will also work on the project with representatives from the Vietnam National Garment and Textile Group (Vinatex)  and the Ministry of Industry and Trade (MoIT).

The MPI is willing to support and create favourable conditions for TAL to expand investment in Vietnam and has assigned the Foreign Investment Agency to contact TAL on supporting the progress of the project, said Deputy Minister Sinh. 

Source: VOV on June, 22, 2013