This assessment garnered strong consensus from managers, economic experts, and business leaders at the Vietnam Exhibition, Event, and Advertising Industry High-Level Conference, held at the Vietnam Exhibition Center (VEC) in Hanoi on 8/5.

Centered on the theme of the cultural industry and sports economy's era of ascent, the event served as a forum for international organizers to discuss strategies for transforming Vietnam into a world-class experience hub.

Lam Thi Phuong Thanh, Minister of Culture, Sports, and Tourism, delivered a keynote speech at the conference. Photo: Vingroup

Representing state management, Minister of Culture, Sports, and Tourism Lam Thi Phuong Thanh affirmed that the State views culture as a strategic economic sector, on par with economics, politics, and society. The government aims for the cultural industry to contribute around 7% of GDP by 2030, rising to 9% by 2045. To achieve this, the national budget commits a minimum of 2% spending on culture, alongside implementing a series of incentive policies for key areas such as cinema, performing arts, exhibitions, and sports.

From a financial perspective, Doctor Can Van Luc, Chief Economist at BIDV, assessed that this multi-billion US dollar economy possesses huge growth potential. He cited the domestic advertising market, which currently stands at 3,5 billion USD and maintains a growth rate of 12% annually. Similarly, the Meetings, Incentives, Conferences, and Exhibitions (MICE) tourism sector has reached 6 billion USD, with projected steady growth of 12-15% annually during the 2026-2030 period.

Experts participated in a panel discussion. Photo: Vingroup

To convert this potential into real value, infrastructure plays a decisive role in national competitiveness. Pham Thai Ha, CEO of VEC, emphasized that the grand vision for the cultural industry cannot materialize without a commensurate system of facilities. She views culture not only as the national soul but also as soft power, an economic sector, and a driving force for national development in the new era.

Addressing the infrastructure challenge, Vingroup operates VEC in Hanoi and is developing the VEC Can Gio project in TP HCM. The conglomerate also creates a network of international-scale multi-functional facilities, notably Hung Vuong Stadium with a record capacity of 135,000 seats, and the PVF sports stadium in Hung Yen. "Combined with a synchronized ecosystem of accommodation, transportation, and entertainment services including Vinpearl, Xanh SM, V-Spirit, and VinPalace, this hardware platform helps Vietnam completely overcome technical barriers, ready to host mega-concerts and major sports tournaments," Ms. Ha affirmed.

Geoff Dickinson, CEO of dmg events, discussed a content-centric strategy for B2B events like ADIPEC to connect governments and global supply chains. Photo: Vingroup

Geoff Dickinson, CEO of dmg events, a leading global energy exhibition organizer, believes Vietnam is at a golden moment for a breakthrough. He trusts that the combination of modern venues, government support, and the capability of organizers will help the nation quickly establish its position. Dmg events has opened an office in Hanoi, committing long-term investment to bring global exhibitions to Vietnam.

Concurring with this view, Jason Yan, Partner at M Square Capital, mentioned the "urban catalyst" model as a leverage for economic growth. In 2025 alone, over 800 music events in Vietnam generated revenue exceeding 50 million USD. This expert analyzed the huge ripple effect: each one US dollar spent on event tickets leads to 4-6 US dollars in consumption for accommodation, dining, and retail. The strong purchasing power of Vietnamese youth, evidenced by immediate "sold out" phenomena, is coveted by many markets worldwide.

The Exhibition, Event & Advertising ecosystem was activated. Photo: Vingroup

To concretize this shared vision, Le Quoc Vinh, Chairman of Le Bros, announced the Vietnam Exhibition and Event Week 2026 (VEEW 2026), scheduled from 30/7 to 2/8 at VEC. This will be an annual connection platform, initiating Vietnam-branded projects to gradually build a sustainable, internationally reaching event ecosystem.

Thanh Thu