DONG NAI (Biz Hub) -- Bosch, a global supplier of technology and services, announced on Friday that it would have a two-prong investment approach in Viet Nam that would include a US$208 million investment in an existing gasoline manufacturing plant by 2016.

The Dong Nai authorities on Friday granted a certificate of investment to Bosch to develop a new production line in Long Thanh Industrial Park in Dong Nai Province.

The expansion will enable higher production capacity of belts for continuously variable transmissions (CVT).

With this amount, the total investment in the plant will add up to nearly $340 million. The new investment will create about 500 new jobs by 2015.

The company also inaugurated its Technical Industrial Apprenticeship (TGA) programme that operates according to German vocational training standards in Viet Nam with an initial investment of US$1 million to meet the increased need for local skilled labour.

The initial two-year programme will begin with 24 apprentices.

Training is designed to enhance the skills of the local workforce so they can find jobs. The programme will combine theoretical training at LILAMA2, the foremost technical and technology college in Vietnam, with real-world practical training at Bosch. -- VNS