Signing MoU in MICE Business to Prepare for AEC in 2015
Hanoi, Vietnam, 16 March 2012 – In the preparation of the AEC formation in 2015, the Thailand Convention and Exhibition Bureau (TCEB) announces the future of ASEAN collaboration in the MICE industry with Vietnam after a Memorandum of Understanding (MoU) between the Vietnam Chamber of Commerce and Industry (VCCI) was recently signed in Hanoi. The agreement is in line with TCEB’s strategic approach under the “ASEAN MICE Collaboration” aimed at promoting the MICE industry in the region, as well as ensuring that ASEAN MICE industry is ready to become the world’s leader.
The MoU was signed on 16 March by TCEB and VCCI. It prepared the way to establish a long-term mutually purposeful affiliation in five sectors: bilateral trade missions, facilitation in meetings and trade events delegates, support in cross-promotion, exchanging market surveys in ASEAN, and mutually providing both financial and non-financial support.
Mrs. Supawan Teerarat, Director of Exhibition, Thailand Convention and Exhibition Bureau announced that “as a government agency dedicated to supporting the MICE industry, TCEB is keenly aware of the importance of regional cooperation to boost the growth of the industry. We expect the forthcoming economic integration within ASEAN in 2015 to drive a major expansion of the MICE industry in Southeast Asia, and it is therefore crucial to develop multifaceted bilateral cooperation with other member countries to contribute to ASEAN prosperity and development in the region.
According to the Royal Thai Ministry of Commerce, economic co-operation between the two nations is rising. Bilateral trade is dramatically raised by 25% in 2011; achieved US$ 9 billion in which Vietnam’s export to Thailand increased by 45 percent. Thailand has over 230 investment projects in the pipeline in Vietnam, ranking in the top ten countries and territories investing into Vietnam.
Mr.Hoang Van Dung, the Standing Vice President of VCCI revealed “the signing of MoU will help boost relations between the two countries, especially in term of the business event industry via the bilateral cooperation and business development policies, as well as supporting on the staff and MICE industry professional training programme. By the cooperation, VCCI will work closely with TCEB to encourage trade promotion, MICE in Vietnam and Thailand in order to support the 2 countries entreprises community for their business development. This collaboration will help enhance mutual economic benefits. It is, in addition, significant that ASEAN members should help facilitate one another in order to prosper from the region’s advancement.”
In term of the MICE business, Vietnam is one of the dominant markets to Thailand especially in exhibitions industry. In addition, TCEB, this year, has broadened its prospect in the ‘meetings industry’ in Vietnam. This is due to the fact that the industry has shown the respectively growth in the past few years. In terms of the tourist number, Vietnam has been ranked the 4th in ASEAN countries after Malaysia, Laos and Singapore. Drastically, it was recorded a double digit growth from 2010 to 2011, accumulated to almost 30%.
“This MoU signing will focus on promoting human resource development, culture and economy via meetings, incentive, convention and exhibition, leading to the expansion of both Thai and Vietnamese MICE industry. This helps Thailand welcome and fully facilitate Vietnamese MICE market. We expect that this collaboration will increase the ratio of Vietnamese market in Thailand by 30% or valued USD2.5 million,” added Mrs. Supawan.
In 2011, TCEB launched a major marketing promotional campaign, Believe in Thailand. This year following phase of the campaign will showcase the new theme; THAILAND: Destination of “CHOICES”. This theme will highlight Thailand’s assortment of destinations that can meet all kinds of MICE events in Thailand. The strategic goal is to establish Thailand’s status as a hub for all industry sectors to support the growth of the ASEAN Economic Community.
According to “The Trade Fair Industry of Asia 7th Edition, 2011” reported by the Union des Foires International (UFI), it is shown that in 2010, the revenues from trade fairs in Thailand reaches around USD 132 million which is the highest in ASEAN while Vietnam is now being emerged. It is ranked 5th with an estimated annualized revenue at USD 42 million.
Country and City Rankings Report 2010 by International Congress and Convention Association (ICCA) revealed that Thailand and Vietnam remain a high potential market for the MICE industry in Asia Pacific & Middle East. Both are in the top twenty for hosting the highest number of conferences in this region. Thailand ranked 9th while Vietnam ranked 13th.
The campaign aims to help boost Thai trade shows and reinforce Thailand’s position as the exhibition city in ASEAN to gear up for the AEC
