Panyathip Advertising has initiated a joint venture with Plan B Media of Thailand to develop advertisements in Lao PDR.
The signing ceremony of the memorandum of understanding between Panyathip Advertising and Plan B Media was held in Vientiane Capital on June 22.
The agreement was signed by President of Panyathip Advertising Company Xayasone Panyathip and Chief Executive Officer of Plan B Media Palin Lojanagosin.
Witnesses at the event were Vientiane Vice Mayor Keophilavan A-phaylath and officials from both sides.
The joint venture between Panyathip Advertising and Plan B Media has a capital investment of US$2.8 million.
Plan B Media Public Company Limited, a leading company on media business in the Asia region, has its headquarters in Thailand.
The company offers a wide range of out-of-home media platforms to support campaigns, including transit media, such as bus body wrap, in-bus advertisements and mass rapid transit (MRT) media; digital media, which consists of digital billboards, digital walls and interactive platforms; static media, such as large format expressway billboards and street furniture; and holistic media in mall or store platforms.
Mr Xayasone said the joint venture to develop advertising between Panyathip Advertising and Plan B Media aims to open up opportunities to expand the advertisement business, promote the socio-economic development growth of Laos, develop the rocketing advertisement circle in Laos and link with other ASEAN member countries and the region, as well as attract foreign investment by making unique and colorful advertising, attracting customers in ASEAN and the region.
Source: Lao News Agency