Laos, Thailand invest to establish new media company
The Panyathip Advertising Co., Ltd of Laos and the Plan B Media Co., Ltd of Thailand will invest US$2.8 million to establish the “Panyathip Plan B Media Company” in Laos in order to support advertising business expansion in Laos and the Asean region.
The Memorandum of Understanding was signed in Vientiane last week by the Panyathip Advertising Co., Ltd President, Mr Sayasone Panyathip and the Plan B Media Co., Ltd CEO, Mr Palin Lojanagosin.
The agreement was signed and witnessed by the Panyathip Advertising Co., Ltd Managing Director, Mr Sayasouk Panyathip and the Plan B Media Co., Ltd Managing Director, Dr Pinijsorn Luechaikajohnpan, and attended by Vientiane Vice Mayor, Mr Keophivanh Aphailath, Chanthabouly district Governor, Ms Bualon Vongdalasaen along with senior officials from the Lao Journalists’ Association, the Lao National Chamber of Commerce and Industry and representatives of business operators in Laos.
The Panyathip Advertising Co., Ltd is one of the business units of K&C Group, which has more than 18 years of experience in advertising especially in the areas of online (digital contents), offline (print media outlets) and on the ground (promotional event organising).
“As companies we see the potential for advertising business expansion in Laos; with the growth of the country’s economy we have decided to cooperate for operating our business together,” Mr Sayasone said.
“The cooperation will help to develop advertising products for Laos, particularly increasing the capacity of the Panyathip Advertising Co., Ltd to better meet regional and international standards,” he said.
“This cooperation will also to help us to expand our advertising business into the Asean region in order to create new opportunities and attract inward investment from foreign countries,” Mr Sayasone said.
As advertising demand is increasing in Laos, the numbers of investors in the sector are likewise increasing in the country, and the competition is also focusing on developing new advertising products for the Lao market using new technology.
Plan B Media Public Company provides advertising media services and also offers advertising space and air time rental services.
Its services include out of the home advertising media services, such as mass transit system advertising, static outdoor advertising, digital outdoor advertising, airport advertising, in-mall advertising, and online advertising media services.
Dr Pinijsorn believes the cooperation will bring great advertising services to Laos and help to encourage more investors from Thailand.