Thai, Lao ad agencies to set up joint venture

A memorandum of understanding for the creation of Panyathip Plan B Media Company has been signed in Vientiane by Panyathip Advertising president Sayasone Panyathip and Plan B Media chief executive Palin Lojanagosin.
The agreement was also signed and witnessed by Panyathip Advertising managing director Sayasouk Panyathip and the Plan B Media managing director Pinijsorn Luechaikajohnpan, and attended by Vientiane vice mayor Keophivanh Aphailath, Chanthabouly district governor Bualon Vongdalasaen along with officials from the Lao Journalists’ Association, the Lao National Chamber of Commerce and Industry and representatives of business operators in Laos.
The Panyathip Advertising is one of the business units of K&C Group, which has 18’ years experience in advertising especially in online and print media as well as events management.
 “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 in operating our business together,” Sayasone said.
“The cooperation will help to develop advertising products for Laos, particularly increasing the capacity of the Panyathip Advertising to better meet regional and international standards.
“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.”
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 provides advertising media services and also offers advertising space and air time rental services.
Its services include out-of-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.
Pinijsorn believes the cooperation will improve advertising services to Laos and help to encourage more investors from Thailand.