Index village enters joint venture with Foreever Group
Thai event organiser sets up latest collaboration after Vietnam tie upIndex Creative Village, the leading event organiser, will form a 49:51 joint venture in Myanmar with Yangon-based Forever Group, the media and communication giant in that country.
"The deal will be sealed in a couple months after the company has successfully co-organised several formal events including the Myanmar Academy 2010 Awards and Union Day for the Myanmar government in February," Kriangkrai Kanjanapokin, co-CEO, told The Nation.
This will be the company's second tie-up in the region following TVMIndex, a 50:50 JV with Tri Viet Media Corporation based in Vietnam's commercial capital Ho Chi Minh City.
TVMIndex will provide "world-class" event organising services, multimedia production and sponsorship management for multinational and local companies, as well as Thai companies operating in Vietnam.
The latest JV would be called Index Creative Village Myanmar.
"It is considered as a perfect marriage as Forever Group is |also keen on the event man-|agement business," Kriangkrai said.
FOCUS ON LIVE PERFORMANCES
Winn Maw, CEO of Forever Group, in an earlier interview said that this year his company would focus on event management to boost revenue, particularly by selling live-performance and concert tickets because these types of shows could improve its free-to-air and pay-TV ratings among local audiences.
"So we need new creative ideas and technical and technological support from Index Creative Village," Winn Maw said.
Index Creative Village pro-|jects Bt20 million-Bt30 million |in revenues from technical sup-port services and the rental of exported equipment this year.
Kriangkrai said that in the near future, Myanmar would offer the best opportunity for the event business.
For example, next year the country will host the 27th Southeast Asian Games in Nay Pyi Taw, while in 2014 it will be become the rotating chairman of Asean, which |will lead to the holding of many official regional meetings in the country.
Myanmar is also becoming one of the hottest destinations in Southeast Asia for foreign trade and investment and for tourism, particularly from Thailand.
Index Creative Village's research house, Envirosell Thailand, in cooperation with five to six major Thai firms, is conducting a series of marketing intelligence surveys in six key cities in Myanmar, including Yangon, Mandalay, Bagan and Nay Pyi Taw.
The research will provide an update on the investment and business climate in this land of about 55 million people, as well as local consumer insight.
The study is expected to be |completed in three months, he added.