From Exhibitions To Elevation: Vietnam's Trade Wave

A Surge In Trade Fairs

With a trade surplus exceeding $28 billion in 2023, nearly tripling that of 2022 and miraculously surpassing its pre-pandemic statistics, Vietnam’s economy is sending strong signals of growth and resilience. The country’s export turnover reached an impressive $190.08 billion in the first half of 2024, marking a 14.5% year-on-year increase, as reported by the General Statistics Office (GSO).

These figures reflect a positive trade balance, indicating that Vietnam is successful in capturing global appetite for its products.

"Participating in export and trade fairs has emerged as the preferred strategy for companies to address challenges in international trade," stated the Ministry of Agriculture and Rural Development (MARD). Major events can be named Vietnam Expo - annual trade promotion event in Vietnam since 1991, the Vietnam Cyclo Expo, and the Coffee Expo Vietnam.

The Impact Of Exhibitions On Trade Growth

In recent years, Vietnam has become a hub for high-profile exhibitions, attracting over 15,000 exhibitors and millions of eager visitors looking to build trade relationships. These events play a crucial role in driving trade growth, with studies showing that 70% of businesses gain new leads and boost brand awareness through their participation.

A prime example is the textile and garment industry, which has seen impressive annual growth rates of 20-26% from 2018 to 2022, largely fueled by active involvement in international trade fairs like the Vietnam International Trade Fair for Apparel, Textiles, and Textile Technologies (VIATT).

Zhang Lexiang, General Secretary of the China Elevator Association, expressed his astonishment at Vietnam's growth during the Vietnam Elevator Expo 2024: "When we first visited 20 years ago, there were only two elevator manufacturing companies. Now, there are over 300."

Looking ahead, these are signifiers for a blooming of MICE (Meetings, Incentives, Conferences and Exhibitions) tourism in Vietnam as a modern platform to connect with international buyers, fostering collaboration and opening new avenues for trade.

The Future Of Vietnam’s Exhibitions And Trade Fairs

Elevating Vietnam's National Brand Value

Trade fairs are vital marketing tools that showcase Vietnamese innovation and boost brand visibility globally. Events like the Vietnam Expo provide local businesses with platforms to present their products to international audiences, enhancing recognition and fostering valuable connections that lead to essential partnerships.

In 2023, over 5,000 Vietnamese enterprises showcased their products at more than 300 international trade fairs, highlighting key exports like F&B, FMCG, construction materials, and textiles. These exhibitions facilitate knowledge exchange and innovation, allowing Vietnamese brands to highlight their unique capabilities and strengthen their national identity in global markets.

Notable participants included Minh Long - the leading prestigious ceramic brand in Vietnam, presented at the international trade fair Ambiente Frankfurt (Germany) annually. Or The Doi Dep The first and only Vietnamese tea brand at World Tea Expo 2024 in Las Vegas, USA, marking it as a "trend milestone." Additionally, Phuong Nam Bookstore made its presence felt at the Frankfurt Book Fair 2024, the world’s largest book trade fair. These events highlight Vietnam's growing influence and innovation on the international stage.

Future Growth

Ho Chi Minh City is rapidly establishing itself as a premier exhibition center in Southeast Asia. In the first seven months of 2024, the city organized 88 trade and investment promotion activities, engaging nearly 9,940 businesses. It boasts three state-of-the-art venues: the Saigon Exhibition and Convention Center (SECC), Tan Binh Exhibition and Convention Center (TBECC), and Phu Tho International Exhibition and Convention Center.

SECC stands out as a trusted venue for major corporations like Unilever, Circle K, and Under Armour. In 2023, it earned the "ASEAN MICE Venue - Exhibition Venue" award at the ASEAN Tourism Forum.

Strategically located in Phu My Hung, SECC is the only exhibition center in Vietnam—and one of the few in Asia—meeting international standards for MICE. It features a diverse restaurant area offering international cuisine, along with convenience stores, ATMs, and charging stations. With extensive parking for 1,000 cars and 3,000 motorbikes.

Impressive records of hosting trade fairs with 2,500 booths, gala dinners for 4,000 guests, and music festivals attracting over 30,000 attendees. With its commitment to excellence, SECC is a vital hub in Vietnam's exhibition and trade landscape.

Looking ahead, Vingroup is making significant strides with the construction of the National Exhibition and Fair Center in Dong Anh District, Hanoi, set to span an impressive 90 hectares. This ambitious project will rank among the world's top 10 largest exhibition venues, positioning Vietnam as a premier international destination for trade events, alongside established centers in Dubai and Milan.

The project’s groundbreaking ceremony, marks a significant milestone in celebrating significant anniversaries: the 79th anniversary of the Socialist Republic of Vietnam (September 2, 1945 - September 2, 2024) and the 70th anniversary of the liberation of Hanoi (October 10, 1954 - October 10, 2024).

Alongside with SECC in Ho Chi Minh City, this new facility aims to further enhance Vietnam's exhibition landscape. This development is set to boost economic growth and foster global connections, showcasing Vietnam's potential on the world stage.