Opportunity for Vietnam to become a regional exhibition center

In the context of increasingly deep international integration, exhibition economy is emerging as an important driving force to promote trade, tourism, services and national image.

With its strategic geographical location, stable economic growth rate and aspirations to reach new heights, Vietnam is aiming to become a leading exhibition center in Asia in the coming decades. This opportunity is even more feasible when Vietnam has formed international-scale exhibition centers.

The exhibition of national achievements “80 years of journey of Independence - Freedom - Happiness” has attracted more than 10 million visitors. Photo: Anh Duong

Potential to boost economic growth

The exhibition economy has long been considered a "smokeless industry" that brings great added value, leading to the demand for accommodation, food , transportation, shopping, and experiential tourism services. According to data from the World Federation of Exhibitions (UFI), before the Covid-19 pandemic, this industry contributed about 325 billion USD to the global economy, creating millions of direct and indirect jobs. In Asia, leading exhibition centers such as Singapore, Thailand, China, Korea, etc. have taken advantage to strongly develop the MICE industry (tourism combined with conferences, seminars, and events), turning exhibitions into one of the major sources of revenue and at the same time an effective national promotion channel.

With its location as a gateway to Southeast Asia, with convenient connections to major economies in the region such as China, Japan, South Korea and ASEAN, Vietnam is considered to have a natural advantage to become a transit point for international exhibitions and trade fairs. In particular, in recent years, Vietnam has made its mark with a series of major events such as APEC (2017), the US-North Korea Summit (2018), SEA Games 31 (2022)... These events demonstrate the organization capacity and the State's attention, and at the same time affirm that Vietnam has the qualifications to organize regional and international exhibitions.

At the workshop “Vietnam - New Destination for the Future of Asian Exhibitions” within the framework of the National Achievement Exhibition, Deputy Minister of Culture, Sports and Tourism Ho An Phong stated that the exhibition and fair industry has become one of the important driving forces to promote economic growth, cultural exchange and international cooperation. This is a field that directly connects businesses, markets, consumers, and is also a bridge between knowledge, technology and creativity.

Leverage for Vietnam's exhibition industry

The inauguration of the Vietnam Exhibition Center (VEC) - an exhibition complex ranked in the top 10 in the world and the largest in Southeast Asia - is considered the basis for Vietnam to confidently organize international events and exhibitions. Since its inauguration, VEC has made a splash with the National Achievement Exhibition themed "80 years of Independence - Freedom - Happiness", attracting more than 10 million visitors - a record number, opening up great opportunities for the exhibition to become a driving force for economic growth in the future. Previously, VEC has repeatedly demonstrated its ability to organize entertainment events with tens of thousands of spectators. Music festivals such as "V Fest", "V Concert", "8Wonder" ... have left a strong impression on professional organization and investment. VEC CEO Pham Thai Ha affirmed that VEC is not only an event infrastructure but also a gateway to bring Vietnam to the world. This cultural institution is a two-way bridge connecting Vietnam with the world and bringing the world closer to Vietnam.

Speaking at the opening ceremony of the National Achievement Exhibition held on August 28, Politburo member and Prime Minister Pham Minh Chinh emphasized that the construction of VEC contributes to realizing the Politburo's Conclusion on the Hanoi Capital Planning, developing in the direction of "Cultural - Civilized - Modern" with a smart urban model, a creative city, bright - green - clean - beautiful. The project has turned the wild land along the Red River into an attractive destination, ready for major political, economic, cultural and artistic events of the country, region and the world.

Vietnam has many opportunities and potential to become a leading exhibition and event destination in the region. To quickly realize this aspiration, experts believe that a long-term strategy and sustainable policy mechanism are needed. Ms. Ramona Fischer, representative of GL Events (a French global group specializing in events, conferences and exhibitions), said that in order for Hanoi and VEC to become a leading destination for international trade fairs, Vietnam needs to simultaneously promote key factors such as convenient visa procedures, access to displayed goods, government support and a complete service ecosystem.

Regarding this issue, Deputy Minister of Culture, Sports and Tourism Ho An Phong said that in the coming period, the Ministry will accompany businesses to develop the exhibition industry associated with the cultural and entertainment industry ecosystem; support the construction of modern, continental-scale exhibition centers capable of hosting international events; focus on investing in the development of the MICE tourism sector, considering this a strategic direction to increase value and affirm the Vietnamese tourism brand on the world map.

Source: https://hanoimoi.vn/co-hoi-de-viet-nam-tro-thanh-trung-tam-trien-lam-cua-khu-vuc-716296.html