The overview of the TCEB’s Business Forum 2023
He noted that Vietnam’s rapid economic growth, especially in manufacturing and innovation, along with increased foreign investment inflows, has created a new potential market for the development of the Meetings, Incentives, Conferences, and Exhibitions (MICE) industry as well as 12 target industries, including manufacturing, electronics, and future automobiles. Therefore, TCEB defines Vietnam as an important partner to seek opportunities to promote development through trade shows. Thailand will be the gateway for Vietnamese businesses to access the market of 600 million people in Southeast Asia.
Mr. Puripan Bunnag said that Thailand’s MICE industry annually brings in an estimated profit of 200 billion baht (VND134 trillion or US$5.6 billion). From now until the end of the year, Thailand is expected to organize 50-60 exhibitions and trade fairs in various industries. This is an opportunity for Vietnamese businesses and individuals.
Ms. Tran Thi Lan Anh, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI), emphasized that Thailand is an important economic partner of Vietnam, with the two-way trade exceeding US$25 billion a year. Currently, many large Thai firms are investing and doing business in Vietnam. Especially, the Vietnam-Thailand trade is going very strongly.
“Thailand is the second largest investor of ASEAN in Vietnam. It also ranks 9th out of 142 countries and territories investing in Vietnam. Commercial investment activities of Thailand and Vietnam are very developed. Through forums and exhibitions, Vietnamese and Thai companies are expected to have more opportunities to expand cooperation and trade,” said Ms. Tran Thi Lan Anh.
In the past time, Vietnam has experienced rapid economic development, with its GDP expanding by 8% in 2022. Thailand is one of Vietnam’s favorite destinations for Vietnamese tourists, which rank fifth in Thailand. Apart from experiencing Thai culture and tourism, more than 70 Vietnamese associations, entrepreneurs, manufacturers and government agencies have participated in exhibitions in Thailand to seek cooperation opportunities and acquire new technologies.