Bosch Security Systems, a global supplier of technology and services, has representative offices in Vietnam since 1994. After the anti-China riot in May, Terence Ng, GM of IndoChina of Bosch Security Systems believes the incident is a wakeup call for Vietnam’s manufacturing sector. “Many industrial parks and factor
Bosch Security Systems, a global supplier of technology and services, has representative offices in Vietnam since 1994.
After the anti-China riot in May, Terence Ng, GM of IndoChina of Bosch Security Systems believes the incident is a wakeup call for Vietnam’s manufacturing sector. “Many industrial parks and factories were set up over the past years since Vietnam started industrialization, but there were insufficient or no investment in protecting and securing these facilities, which is posing a threat to the safety and security of personnel. Now, industrial park and factory owners can no longer take security for granted and need to work on a comprehensive protection plan for their personnel, assets and facilities.”
The damage done to not only the factories and people, but also the economy, urges the Vietnam government to do their best to ensure the world that Vietnam is an ideal place to invest.
“The recent riot will certainly force all stakeholders to look at the security requirements in Vietnam differently. Vietnam economic developments partly depend on the confidence of the investors. The government will have to ensure all foreign investors all over the world that it is making its best effort and taking measures to re-stabilize the business environment for foreign invested companies in the country.” says Ng, “Prompt assistance and support must also come from local authorities and police. Setting minimum security standards for industrial parks will improve the confidence of the investors. Industrial park owners can offer enhanced security systems in their facility to attract investors especially foreign companies. Overall the government is taking the correct measures and it is a positive step in the right direction for the industry.”
According to IHS Research, the economic and commercial impact on Vietnam’s investment image in the wake of the anti-China riot will be limited, since production is likely to resume quickly in the affected areas.
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