BANGKOK, Sept. 30, 2020 /PRNewswire/ -- Subcon Thailand
2020, ASEAN's largest international industrial subcontracting trade
show, held last week in Bangkok
under a new "hybrid" virtual-physical format, proved a success with
local and foreign exhibitors, and buyers, who participated in 1,277
business matching sessions worth at least 3.89 billion baht (USD123
million) in expected business value, according to data
gathered by the Thailand Board of
Investment (BOI).
Subcon 2020 was held from September 23 to
26 at Bitec Bangkok after being delayed from its initial May
schedule as Thailand implemented a
strict lock-down that received praised for successfully controlling
the COVID-19 outbreak. The event is co-organized by the BOI, the
Thai Subcontracting Promotion Association and event organizer
Informa Markets, in conjunction with Intermach, the leading
industrial machinery exhibition in South
East Asia.
"This is better than expected and its quite a success especially
when you consider that the schedule of the event was confirmed only
two months ago and the time we had to publicize it was quite
limited," said Sonklin Ploymee, Director of the BOI's Industrial
Linkage Development Division. "This was the first time we organized
business matching online so we did not expect that so many buyers
would register in advance, showing a strong need to enter our
business matching activities."
The foreign participation to Subcon included companies from
Japan, China, France, Belgium, Netherlands, Korea, Vietnam, Italy, UK, India, and the US, mostly from the automotive
and car parts, electronics, medical equipment, and machinery
sectors, said Ms Sonklin, who from October
1st will become Deputy Secretary General of the BOI.
"This is the first time we had Chinese companies taking part to
business matching at Subcon, and also the first time we linked the
Thai and Vietnam supply chains,
showing our strength as the regional hub of subcontracting," she
said. "Vietnam-based companies
were mostly on the buy side."
Some 121 exhibitors presented their technology, equipment and
services in 183 booths, Ms Sonklin said, adding that the show was
attended by 12,487 visitors in line with expectations. A total of
103 buyers invited by the BOI registered to take part to business
matching sessions during the show, including 79 companies who took
part online and 24 onsite. Of the total 1,277 business matching
sessions, 1,140 were held onsite and 137 online, she said. The
estimated business value does not yet include the result of the
online sessions which is still being evaluated.
In one of the largest business linkage opportunities at the
event, China's Great Wall Motor,
which will be starting automobile production in Thailand next year, met with Thailand-based suppliers and part makers in a
conference organized by the BOI. Taking advantage of Thailand's comprehensive supply chain in the
automotive sector, Great Wall told part makers at the event that it
plans to ramp up local content from 45 percent next year to as much
as 90 percent within 5 years.
"Despite COVID-19 and travel restriction for foreign visitors,
the show was a big hit and successfully delivered business
opportunity, business linkage and business collaboration between
exhibitors, buyers, and entrepreneurs," Informa Markets said on its
website in a statement about the 2020 edition of Intermach and
Subcon.
The next edition of the shows will be held from 12-15 May 2021, the organizers said.