Index Creative Village aims to
lift the standards of the event-organising industry in Myanmar, seek
more business opportunities in Vietnam and expand to other Indochina
countries in the future.
The company has already established a
presence in Myanmar as Myanmar Index Creative Village. MICV, together
with its local partner Forever Group, recently launched a Bt35-million
project to organise Myanmar's first-ever New Year's countdown.
"Index Creative Village wants not only
to organise events but also to educate people on forming international
standard events," co-CEO Kriangkrai Kanjanapoki said at a press
briefing.
The Myanmar operation's service scope
will be similar, from events, exhibitions and conferences to marketing
activities. Equipment rental, construction, exhibition and research will
also be available there.
Myanmar Index Creative Village started
up in the beginning of this year by focusing 70-80 per cent on events
for the private sector and 20-30 per cent on government-supported
projects.
The countdown is not the first event
MICV has undertaken in Myanmar. It has already held two big events -
Myanmar Academy Award 2011 and Union Day 2012.
Since it has been in Myanmar for awhile,
MICV shared its experience in setting up a business in the country for a
Thai company, saying challenges remain.
"Business registration is not easy due
to changes in laws and regulations. People also still lack know-how, so
getting the same standard is quite difficult," Narindej
Thaveesangpanich, Asean director at Index Creative Village, told The
Nation.
Problems of electricity shortages and stage construction are |considered hurdles for event organisers.
Yet, there are several factors that could lead to success in doing business in Myanmar.
"Being the first mover, we gained a lot of experience and a lot of benefit as well," he said.
Other factors are choosing the right business partner, nurturing connections and training local staff.
The main rivals in this region for MICV
are companies from Singapore. However, for the Myanmar market, Thailand
has an advantage in being Myanmar's neighbour.
"Logistics-wise, we can ship equipment from Thailand to Myanmar by using land connectivity," he said.
In Vietnam, Index Creative Village with
its partner formed TVM Index in June. The service offered in Vietnam is
only event management.
"Unlike Myanmar, the market in Vietnam is quite ready. We don't invest there," he said.
More creativity and international standards are the keys for the Vietnam market.
Myanmar and Vietnam offer huge
opportunities, with the event industry in Myanmar expected to grow 20
per cent per year and in Vietnam 10 per cent per year. However, the
market in Thailand will be stable next year.
The company's turnover for this year is Bt2.8 billion.
As the Asean Economic Community set to
be in full implementation in 2015, Index Creative Village sees Thailand
as the head of this industry in upper Asean.
"The model for us is to look at the
market as a region with Thailand as a hub of creativity in upper Asean.
Besides Myanmar and Vietnam, we plan to expand to other countries in
Asean by considering land connectivity as a priority " he added.
source: Eleven Myanmar
No comments:
Post a Comment