Another foreign country has chosen the flourishing city of Cagayan de Oro to be the center of its business operation in Northern Mindanao. This time, it is Bosch, the German multinational engineering and electronics company, that has targeted the city of Golden Friendship as their next business hub in the Philippines. Last June 25, 2015, Bosch has released an official statement confirming their plans of making Cagayan de Oro as an addition to their business centers in the country. And just this August 5, 2016, in Barangay Gusa, Bosch officially inaugurated their new business center. Bosch’s newest hub is located at Neo Arcade Building in Gusa.
Present during the inauguration was Andrew Powell—Bosch’s Marketing Manager—who expressed his excitement of opening their 4th business center in the Philippines. According to Powell, they are aware that Cagayan de Oro is the best place to expand their business, especially with the current plan of the Duterte administration to transform Mindanao as the country’s economic powerhouse.
“Our presence in CdeO enables us to take active participation in the exciting growth opportunities in the region,” Powell said.
During the event, Powell also grabbed the opportunity to introduce the various divisions of Bosch that will guarantee quality and standard services and products to its customers in the city and throughout the region. Cagayan de Oro has a burgeoning population, and the demand for motor vehicles throughout the city and neighboring municipalities and provinces has been steadily rising alongside with the real estate development boom in Northern Mindanao.
Bosch’s Automotive Aftermarket division is the one in charge of ensuring that vehicles cruising through the roads of the region are all roadworthy; the Power Tools division, on the other hand, will be the one to provide standardized construction equipment. As for Bosch’s Security Systems division, they’ll be providing safety equipment such as surveillance, fire, and intrusion systems.
Cagayan de Oro City – A City in Bloom, Blossom, and Boom
Over the years, the city of Cagayan de Oro has been experiencing a steady rise in its economic performance. Apart from serving as Misamis Oriental’s capital city, CdeO is also Northern Mindanao’s Business Center. Last 2015, the city has been recognized by the National Competitiveness Council of the Philippines as the 2nd most competitive city (nationwide) after Makati, beating the progressive and metropolitan cities of Manila, Cebu, and Davao. Cagayan de Oro City has also been recognized just last year as one of the three cities outside the National Capital Region to have a regular annual income of PHP 2 billion.
As for this year, Cagayan de Oro’s local government unit has ranked seventh out 1,300 LGUs across the country in terms of progressiveness during the annual Cities and Municipalities Competitiveness Index this year. And in the same survey, the city has also placed tenth in Infrastructure, and fourteenth in Economic Dynamism.
The business industry of the city was once dominated by the agricultural sector but several years later, CDO’s economic standing has rapidly increased after the entry of residential and hotel development companies, BPOs, hotels, lifestyle brands, auto dealership, and the likes.
Bosch is a German company that has been considered as the world’s biggest supplier of automotive components such as brakes and steering systems. The company, although based in Gerlingen, near Stuttgart, Germany, has plenty of branches, including in the Philippines. Just last 2014, Bosch PH has been recognized as the “fastest growing market for Bosch in Southeast Asia,” earning US$42.5 million on its consolidated sales, and with its recent opening in the city of Cagayan de Oro, this figure is expected to increase even more.
Bosch’s office in Cagayan de Oro city is fourth in the Philippines, and the second in Mindanao. Currently, Bosch is operating in Metro Manila, Cebu City, Davao City, and Cagayan de Oro City. The world’s leading supplier of automotive and technology components and services has been operating in the country for more than 20 years.