By Quoc Hung - The Saigon Times Daily
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| A visitor inspects an audio product at the exhibition in HCMC on Thursday - Photo: Quoc Hung |
HCMC – PALME Vietnam 2010, an international exhibition on professional audio, visual, lighting, broadcast, systems integration and entertainment technologies, opened in HCMC on Thursday.
The three-day event at the Saigon Exhibition and Convention Center (SECC), a first in the country, promises to bring business opportunities for international enterprises in the local industry.
The exhibition, organized by IIR Exhibitions Pte Ltd in coordination with Vietnamese fair, exhibition and advertising service provider Vinexad, is also the international platform for enterprises to transfer technology in the professional audio and lighting, audio visual and systems integration products, said Rosalind Ng, managing director for Asia of II R Exhibitions.
More than 250 brands from 25 countries are on display at the exhibition which Deputy Minister of Culture, Sports and Tourism Tran Chien Thang described as timely since Vietnam is a ready market for entertainment and media technologies, products and services.
He quoted industry sources as saying Vietnam is the world’s fastest growing entertainment and media market. “This market is expected to surpass US$2.3 billion in 2013. We have a growing market supported by economic expansion over the years.”
Vietnam’s GDP is around US$85 billion with growth expected to range from 6% to 7% this year, he noted. So this helps drive market growth, particularly in the areas of broadband and multi-channel television as well as mobile telephony.
Rosalind Ng said Vietnam was predicted to take the lead in the expansion of its entertainment and media (E & M) market in the next five years, with the overall compound annual growth rate to be the highest in the world at 16.7%, as reported by global business advisory firm PricewaterhouseCoopers.
With a population of about 86 million, Vietnam is now at a stage of rapid development in terms of leisure and hospitality trade. Therefore, the fact that IIR Exhibitions has brought PALME to HCMC for the first time is timely to support the growth of this market in terms of showcasing the latest professional audio and lighting, audio visual and systems integration products to allow the penetration of more sophisticated products to enhance tourism outlets, entertainment facilities and large scale events.
La Quoc Khanh, deputy director of the HCMC Department of Culture, Sports and Tourism, said there were a number of hotels in Vietnam undergoing expansion, including the Rex, Grand, Majestic, Continental and Metropole. New hotels will be built as well.
In addition, the rental and staging industry is growing fast here in the country, especially HCMC. There are numerous culture related events every month. Other than the national events, each province features its own events.
A key event which encapsulates the lucrative Vietnamese market to manufacturers, exhibitors and media of PALME Vietnam is Hanoi’s 1000th Year Anniversary Celebration.
Over 80 events such as performances, ceremonies and activities will be taking place to mark this important milestone in Vietnam’s history, with a mega celebration slated for October 10.