Vietnam’s sustainable development relies on workforce training and a stable business climate, says Bosch executive.

Vietnam continues to solidify its position as an attractive destination for foreign investments, with a renewed focus on sustainable growth strategies. Recently, Dattatreya Gaur, CEO of Bosch Global Software Technologies (BGSW) Vietnam, emphasized the importance of workforce training and a stable business environment during a crucial meeting with Vietnamese Prime Minister Pham Minh Chinh and various foreign-invested enterprises.

During the meeting, Gaur highlighted the integral role of a well-trained workforce in driving the successful operation of foreign businesses in Vietnam. He suggested that the government take proactive measures to foster an ecosystem that connects domestic enterprises, foreign investors, vocational training institutions, and universities. This connectivity would enable learners to gain practical skills that meet the specific needs of foreign-invested enterprises, enriching the local talent pool.

Gaur praised the Vietnamese government’s initial steps toward these goals, particularly the establishment of the National Innovation Center (NIC). This initiative has been designed to facilitate technology transfer between foreign and domestic entities, thereby promoting innovation and enhancing competitive advantage in the marketplace.

An illustrative example of Bosch’s commitment to workforce development is its training program in Vietnam, conducted in partnership with Lilama 2 College in Dong Nai. As of April, this initiative has produced its 10th cohort, resulting in 238 trained individuals, with 134 successfully employed by Bosch. Such partnerships are critical for aligning education with industry requirements, ultimately enhancing the employability of graduates.

In addition to workforce development, Gaur stressed the importance of a stable and efficient business environment. He urged the Vietnamese government to eliminate overlapping roles among agencies involved in administrative processes related to investment, licensing, and imports. This streamlining could significantly reduce bureaucratic bottlenecks, making it easier for foreign firms to operate and contribute to the local economy.

Currently, Bosch employs around 6,000 individuals across various sectors in Vietnam, including high-tech manufacturing, mobile technology, industrial technology, household electrics, and energy solutions. Gaur shared that Bosch plans to expand its software operations to 6,000 engineers and explore new sectors, such as high-tech agriculture and logistics. This ambitious growth trajectory reflects the company’s confidence in Vietnam’s potential as a hub for innovation and technological advancement.

Since its entry into the Vietnamese market in 2007, Bosch has made significant investments, totaling over 450 million euros ($450 million). Dominik Meichle, managing director of Bosch Vietnam, highlighted this financial commitment at a previous event, reinforcing Bosch’s long-term dedication to developing the local economy and fostering sustainable growth.