A JOINT venture between Indonesia’s Panorama Group and Reed Exhibitions has been formed, giving rise to Reed Panorama Exhibitions (RPE) and the new entity’s first trade exhibition, Mining & Engineering Indonesia Expo, which will take place in Jakarta this October.
With this partnership, Panorama Group’s MICE arm, Panorama Convex Indah, will have its exhibitions division drawn into RPE. Panorama Convex Indah will also take on a revised name to reflect its new specialisation – Panorama Meetings and Events.
Budi Tirtawisata, CEO of Panorama Group, said: “MICE is one of the five pillars in Panorama Group. Panorama Convex Indah has been growing well since we launched it 12 years ago. We see an opportunity to grow it further, as the Indonesian economy is booming.
“Indonesia is a highly promising destination for many industry sectors, (but) the exhibition industry in the country is still at an emerging stage.”
Tirtawisata said the formation of RPE was necessary to “raise the quality of trade shows in Jakarta”, and that the move was in line with the group’s plan to “become a global company through international networking”.
Reed Exhibitions Asia-Pacific president, Paul Beh, said: “Indonesia’s stellar economic growth in the past few years and sizable young demographic make it a highly attractive destination for foreign direct investment. Beyond the BRIC economies, Indonesia ranks high in the business agenda of multiple industries around the world. Our customers are telling us to bring them to Indonesia and help them find new businesses. This is the right time to be in Indonesia.”
RPE’s new Mining & Engineering Indonesia Expo, which will target 300 local and international sellers and 3,000 visitors, joins Panorama Convex Indah’s stable of six exhibitions.
“We are aiming to add two new events every year, so in the next five years we will have 17,” Beh said. “We are open to partnerships, be it equity partnerships, acquisitions or managing exhibitions such as those belonging to associations and the government.”
Tirtawisata expects the joint venture to grow business volume by seven to ten times, and revenue by three to four folds over the next five years.
