MICE Trip Sun Pharma: Unlocking Vietnam-India Trade and Investment Opportunities

Vietnam - Asia's attractive MICE destination

The Sun Pharma event is not just a MICE trip (meetings, incentives, conferences and exhibitions tourism) but also a great opportunity for Vietnam to assert its position on the international destination map. Mr. Bui Trung Thuong, Vietnam's Commercial Counselor in India, said that, chosen by one of India's largest pharmaceutical corporations to host 4,500 employees, Vietnam has demonstrated its appeal not only in tourism but also as a prime destination for international investment.

"Vietnam is becoming a leading light for MICE events in the region thanks to its political stability, beautiful natural landscapes, and increasingly improved infrastructure," he said, adding that Sun Pharma's trip is a typical example of giant firms that have been realizing Vietnam's potential in providing high-quality services for large-scale events.

Sun Pharma's trip not only includes normal activities but also has strong cultural and entertaining features. During their stay in Vietnam, 4,500 Sun Pharma employees attended grand events, including a Gala Awards at JW Marriott and DJ Nights at Melia Hanoi. These MICE events highlighted Vietnam's emerging prominence as a major international MICE destination. This is an opportunity not only for Vietnam to introduce its high-class event organizing capacity but also to demonstrate its cultural and economic appeals.

Thuong said: "The choice of Sun Pharma shows that Vietnam is not only an outstanding tourist destination but also an attractive MICE center in the region, thanks to its political stability, beautiful natural landscape and modern infrastructure." He emphasized that, through this event, Vietnam has demonstrated its ability to meet strict requirements for service quality, especially large-scale events that demand high professionalism.

Vietnamese cultural elements are also subtly conveyed through art performances and entertainment events during Sun Pharma's trip. Star Clubs programs held at luxury hotels such as JW Marriott and Intercontinental Landmark 72 provided an engaging entertainment and recreational space that not only attracted visitors but also facilitated cultural exchanges.

Jackie Han, Director of VietnamEvents, said that Sun Pharma's event marked an important step in enhancing Vietnam's MICE brand. "Each event not only meets entertainment or business needs but also showcases Vietnamese cultural identity. The Gala Awards and the DJ Nights not only introduce Vietnamese hospitality to international visitors but also make a distinct difference by incorporating local cultural elements into international events. This not only makes the event unique but also strengthens diplomatic and trade relations by fostering a deeper cultural understanding between countries."

Opportunities to expand Vietnam-India economic cooperation

Not just organizing entertainment activities, this event also opens up great economic cooperation opportunities between Vietnamese companies and Sun Pharma. According to Thuong, Sun Pharma's large delegation not only marks a trip but also provides an opportunity to survey the market and find potential partners. In particular, industries such as pharmaceuticals, biotechnology and high-tech agricultural production are catching the fancy of Indian businesses.

"Sun Pharma can see this event as a stepping stone for expanding investment in Vietnam, not only in the pharmaceutical sector but also in other industries. This creates a great opportunity for Vietnamese businesses to establish cooperation with Indian partners, world-leading pharmaceutical manufacturers. This shows their interest in the Vietnamese market," said Thuong.

However, to grasp opportunities from the Sun Pharma event and attract investment from international corporations, Vietnam needs to further upgrade and expand its scale, especially in big cities such as Hanoi and HCM City, invest in tourism infrastructure, international conferences and high-class hotels although it already has some world-class conference centers to compete with countries in the region such as Thailand or Singapore, he added.

In addition, improving administrative procedures and facilitating foreign investors is an indispensable factor. "Vietnam needs to simplify legal procedures and reduce administrative barriers to create a favorable business environment. The Vietnam Trade Office in India has been supporting businesses in seeking cooperation opportunities and providing market information so that Indian businesses can feel secure in choosing Vietnam as a destination for MICE events as well as long-term investment," he noted.

From the perspective of international investment and cooperation, the Sun Pharma event is not only a MICE success but also opens new development opportunities for both countries. According to a report from the Ministry of Planning and Investment, India is currently one of the major investors in Vietnam, with a total investment capital of US$1 billion by the end of 2023. India and Vietnam are both high-growing economies whose growth doubles that of many countries in the world. Hence, trade and investment cooperation opportunities between the two countries have great potential. This event, with its large scale and high professionalism, has helped Vietnam affirm its capacity to meet international standards and laid a stepping stone to attract more large investors from India.

(Credit: Vietnam Business forum)