The Saigon Exhibition and Convention Centre in HCM City's district 7 (Photo: VNA)HCM City (VNS/VNA) - The exhibition industry is expected to start recoveringby the middle of next year and rebound in 2022 if the COVID-19 pandemic isbrought under control in the next few months, industry insiders said.
Thepandemic has brought the industry to a standstill since February, said Le Tri Dung,Vice Chairman of the Vietnam Exhibition and Conference Association.
Internationaltrade shows bore the brunt, with businesses suffering a 80-90 percent loss inrevenues as trade shows were cancelled or postponed, he said.
“Tradefairs and business events were the first to be affected, and will take longerto recover.
“The80-90 percent loss in turnover has put most exhibition organising companies insevere difficulty.”
Hepredicted the recovery to start next June and growth to be strong for fiveyears starting in early 2022.
Theincreasingly open business environment and continuing international integrationare promising factors, he said.
VuTrong Tai, general manager of Reed Tradex Vietnam, said his company, ASEAN’sexhibition organiser, saw a 71 percent fall in revenues this year due tocancellations and postponements.
InVietnam, four annual trade shows, METALEX Vietnam, NEPCON Vietnam,VietCorrugated & VietFoldingCarton, Vietnam Mnufacturing Expo, werecancelled.
Foreignersusually account for 60-80 percent of visitors to these shows, he said.
"Thefall in turnover puts most exhibiting companies in severe difficulty and has ahuge domino effect on related domains such as transport, travel andhospitality.
"Theexhibition sector plays a vital role in the development of trade and economyand supports many industrial sectors."
VietnamManufacturing Expo would be held in August, NEPCON Vietnam in September,METALEX in October, and VietCorrugated & VietFoldingCarton in Novembernext year, he said.
"Thecountry’s exhibition market is projected to rebound to 80 percent of its 2019size by 2021 and see robust growth from 2022."
Virtualexhibitions have been held to keep in touch with customers and retain markets.
ThuongMy An, managing director of the Saigon Exhibition and Convention Joint VentureCompany, said 48 exhibitions were registered to be held this year inDistrict 7, but only eight havetaken place as planned and two more are slated to take place this month.
Businessesin the exhibition industries need to find ways to collaborate to overcome thecrisis, she said.
SECCwould offer incentives to support exhibition organisers in this tough period,she added.
Nguyen Khac Luan,general director of the Vietnam National Trade Fair and Advertising JSC, saidthe company has been striving to maintain operations during this uncertainperiod, with at least seven exhibitions being held this year.
InAugust, the company had to cancel two trade shows due to the social distancingrequirement by the Government, he added./.
VNA
