Việt Nam-Thailand’s potential to develop MICE industry very large

August 19, 2023 - 08:50
Puripan Bunnag, Senior Vice President of the Thailand Convention and Exhibition Bureau talks to Việt Nam News reporter Nguyễn Hằng about the potential to develop MICE (Meetings, Incentives, Conferences, and Exhibitions) industry between Việt Nam and Thailand in the future
Puripan Bunnag, Senior Vice President of the Thailand Convention and Exhibition Bureau. — Photo courtesy of TCEB

Puripan Bunnag, Senior Vice President of the Thailand Convention and Exhibition Bureau, talks to Việt Nam News reporter Nguyễn Hằng about the potential to develop the MICE (Meetings, Incentives, Conferences, and Exhibitions) industry between Việt Nam and Thailand in the future

Could you tell us about the potential to develop the cooperation of the MICE industry between Việt Nam and Thailand?

The number of Vietnamese coming to Thailand seen as MICE travellers is about 30,000 so far this year. Việt Nam ranked among the top five nations having the most people visiting Thailand in 2022. I think that the potential of the MICE industry between the two countries, both incentives groups and those that attend exhibitions as organisers or as buyers or as vendors, is very large.

So the cooperation between Thailand and Việt Nam in term of the MICE industry and travel is believed to be very important and it will keep going because we have started opening our countries and exhibitions after the COVID-19 pandemic.

The expected number, hopefully, until by the end of this year will be in the hundreds of thousands of Vietnamese coming to Thailand. In the meantime, for Thai visitors going to Việt Nam, we have flights every day from Thailand to Hà Nội and HCM City via airlines of Thai Airways, Việt Nam Airlines and Vietjet Air. There are a lot of Thai people going to Việt Nam as well.

Việt Nam's remarkable economic growth, particularly in the manufacturing and innovation sectors, along with its increasing foreign investments, makes it a promising market for the MICE industry. The Thailand Convention and Exhibition Bureau (TCBE) recognised the potential and organised a forum in Việt Nam on August 17 to foster collaborations and strengthen ties between our two countries.

Acknowledging Việt Nam's swift economic rise is characterised by an impressive GDP growth of 8.0 per cent in 2022. Furthermore, Foreign Direct Investments (FDIs) in Việt Nam leads to the enhancement of labour skills and the adoption of diverse technologies, aligning with the demands of the global market. This dynamic is particularly noticeable in the interactions between Thai and Vietnamese investments, two countries with an ongoing relationship and a consistent flow of investment opportunities. TCEB has pinpointed Việt Nam as a crucial partner for fostering shared expansion.

As Việt Nam seeks opportunities to bolster its growth, Thailand offers an enticing proposition through its array of trade exhibitions. Thailand is recognised as the exhibition destination with its impressive line-up of 145 international shows scheduled for this year. Covering a diverse range of sectors, from livestock, manufacturing to packaging and beyond, these events serve as valuable platforms for showcasing technology, innovations and fostering industry collaboration. In addition, there are events that also aim to support the 12-curve industries, which in turn can enhance Việt Nam’s industries.

Thailand's strategic focus on promoting and advancing targeted industries, including manufacturing, electronics and future automotive, has led to the emergence of diverse exhibitions that serve as platforms for showcasing cutting-edge technology and innovation by leading providers. TCEB would like to encourage Vietnamese business delegates to visit the trade shows in Thailand to gain valuable industry knowledge and exposure to a vast range of technologies that hold significant potential for driving industrial development and innovation in Việt Nam.

From now until the end of the year, Thailand will organise about 50-60 exhibitions and fairs with many specialties and fields, this is an opportunity for Vietnamese businesses to find partners, deploy advertising and promotion activities.

How will the development of the MICE industry contribute to social-economic development for Việt Nam?

Actually, there are also many levels of cooperation between Việt Nam and Thailand in MICE industry development. We have the Government level cooperation, in term of tourism and MICE altogether through the Thai Government and the Vietnamese Government.

In the private sector, we have cooperated via the Việt Nam Chamber of Commerce and Industry. We have business forums between Thailand and Việt Nam. We also have a lot of start-up companies from Việt Nam going to Thailand. In term of MICE cooperation, we are looking forward to see the cooperation in the private sector, hotels and tour operators of Việt Nam and Thailand as well as the cooperation of convention centres doing business together in the future.

The MICE industry has contributed to the Gross Domestic Product (GDP) of each country that has operated MICE industry when the countries have visitors travel to participate conventions and to do exhibitions. In Thailand, those that attend the MICE events, are estimated to spend three times of money than normal tourists visiting Thailand.

Therefore, MICE industry is believed to be very important to every country. We should develop every MICE industry in each country and cooperate with each other. Thailand has been cooperated with many countries through the platform of ASEAN tourism. In term of Thailand and Việt Nam coordination, there are also many platforms and we have kept doing as well. In term of international, Thailand also organised exhibitions in the United States and the Europe.

Thailand's MICE industry brings in an estimated profit of THB200 billion (US$5.6 billion) each year. Since the beginning of this year, TCEB has supported more than 45 international exhibitions. — VNS

A Vietnamese foodstuff company's stall at THAIFEX - Anuga Asia 2023 in Thailand in May, 2023. — VNA/VNS Photo Huy Tiến

Two-way trade between Việt Nam, Thailand reaches over $25 billion

HÀ NỘI — Thailand is an important economic partner of Việt Nam with two-way trade between the two countries topping US$25 billion.Currently, there are many large Thai enterprises investing and doing business in Việt Nam, especially trade activities between the two countries have been strongly promoted, said General Secretary of the Việt Nam Chamber of Commerce and Industry (VCCI) Trần Thị Lan Anh at a forum to boost bilateral opportunities between the two countries, held in Hà Nội on Thursday.Thailand is the second largest investor of ASEAN in Việt Nam. It also ranks ninth out of 142 countries and territories investing in Việt Nam, she said.Through forums and exhibitions, Vietnamese and Thai enterprises are expected to have more opportunities to expand cooperation, she said. — VNS