Bosch, a leading global supplier of technology and services, ended its 2015 fiscal year with a healthy double-digit sales growth in Myanmar.
This growth is mainly backed by a strong increase in the company’s automotive aftermarket business and sales of power tools to the construction industries.
Myanmar continues to be an important growth market for Bosch in SouthEast Asia. We anticipate an increased demand for our products and services due to a positive development of the automobile and industrial sector in Myanmar,” says Andre de Jong, representative of Bosch Group in Myanmar. He also added, “ With our products “invented for life, we help make a difference in region.”
Bosch invests mainly in training employees and dealers and focus on local-for-local strategy by employing more Burmese associates. “Currently, almost all of our associates are locals. At Bosch, we believe that natives understand the needs of the domestic market best. We will continue to attract more Burmese talent, both within Myanmar and other countries, to join our dynamic team,” says De Jong. Following a record year in 2015, the Bosch Group wants to continue its growth trend this year.
The leading global supplier of technology and services expects worldwide sales to grow within an exchange rate-adjusted range of 3 to 5 percent in 2016. In Asia Pacific, the Bosch Group boosted its sales in 2015 to a total of $21.3 billion, thus registering a nominal growth of 17 percent on a comparable basis (2.8 percent after adjusting for exchange-rate effects). At 27 percent of total Bosch sales revenue, the region’s share of sales remained at the high level of the previous year. In Myanmar, Bosch is aiming to penetrate the market as soon as possible and wants to be known by every part of the country, according to De Jong.
