Based on the Malaysian government’s budget announcement on 25 October 2013, Bosch is optimistic that the government is steering towards strengthening economic activity, fiscal management and human capital of Malaysia in a positive direction.
Bosch applauds the government’s pro-activeness in encouraging stronger foreign and domestic investment into the country. However, we hope that the government will continue to place a stronger emphasis on ensuring the on-going health of the manufacturing sector in the years to come.
Greater capital investment in technological advancements will increase productivity and overall competitiveness of the industry. While the Malaysian market remains stable with strong domestic demand, introduction of new tax incentives to the manufacturing sector can further spur local productivity, and increase manufacturing capacities for export for the industry to continue to thrive. Such a measure would drive foreign direct investment and encourage technology transfers into Malaysia, thus enabling the country to maintain a competitive advantage over rapidly emerging markets within the Southeast Asian and greater Asian regions.
The manufacturing workforce must also upgrade to meet growing technological advancements of the industry. We therefore welcome the government’s allocation of RM54.6 billion in the Malaysia Education Blueprint to accelerate academic achievement while developing competencies and technical skills of the local workforce. This will advance local human capital development and progress Malaysians to a higher-income status.
We further welcome the Government’s continued support for adopting green technologies which was announce through the allocation of RM15 billion to establish the Malaysian Green Technology Foundation. Bosch believes that the combination of technological aspiration and sustainable practices is not only a progressive measure but the fundamental basis to create a strong and prosperous business environment. Such an environment will allow Malaysia to achieve a stronger competitive position at higher levels of the economic value chain, and has the potential to generate significant economic and social returns.
Martin Hayes
President, Bosch Southeast Asia /
Managing Director, Bosch Malaysia and Singapore
About Bosch Malaysia
Bosch has been present in Malaysia since 1923, represented by Robert Bosch Sdn Bhd, with offices located in Selangor and Penang. In Malaysia, Bosch is in the areas of Automotive Aftermarket, Power Tools, Security Systems, Drive and Control, Solar Energy and Thermotechnology. The company has two manufacturing arms in Penang providing car multimedia systems and power tools. Bosch also operates joint ventures in Malaysia including BSH Home Appliances Sdn Bhd, FMP Automotive (Malaysia) Sdn Bhd and ZF Steering (Malaysia) Sdn Bhd. In 2012, Bosch in Malaysia generated sales of RM 528 million (132 million euros) and employed more than 2,400 associates. Additional information can be accessed at www.bosch.com.my
