Index Creative Village spreads overseas
Having established its first regional joint-venture company with Tri Viet Media Corporation, a leading Vietnamese media and communication company, event organiser Index Creative Village is targeting Bt196 million in annual revenue from overseas operations
Based in the commercial capital Ho Chi Minh City, TVMIndex – a 50:50 JV – will provide international-standard event-organising services, multimedia production and sponsorship management for multinational companies and local enterprises, as well as for Thai companies operating in Vietnam.
The JV is expected to generate revenue of Bt70 million this year, with multinational and local companies accounting for 60 per cent of the total.
Index Creative Village co-chief executive officer Kriangkan Kanjanapokin yesterday said the company had confidence in the strength of the Vietnamese economy, and the country’s population of more than 80 million presented a sizeable market.
Meanwhile, international conglomerates, including major Thai companies in the automobile and beverage industries, were continuing to invest and expand their business in the country to cash in on the advantages of the Asean Economic Community, which will be implemented in 2015.
Kriangkan added that in the first phase, the JV would focus on Ho Chi Minh City-based companies as well as government bodies. TVMIndex currently has 13 staff.
Le Thi Phuong Thuy, chairwoman of Tri Viet Media, said that through the partnership, the company would like to see know-how, creativity and innovation transfer from a highly experienced Thai event organiser to strengthen its core competency.
Index Creative Village next month plans to announce a second Asean joint venture, in Myanmar, after having organised several events for the government early this year, Kriangkan said.
The company will then discuss further expansion in the Middle East with its Dubai-based JV, Aspan Index Events, while negotiating with several media companies in Indonesia about setting foot in Asean’s largest and most populous country.
“With these efforts, the company expects to gain at least Bt196 million in revenue from overseas business within five years,” he added.
Tri Viet Media runs TV stations, which generate about Bt300 million in annual revenue, as well providing online services.
Annual advertising expenditure in Vietnam is estimated at Bt36 billion, including event-organising businesses.
THE NATION, Ho Chi Minh City
