MACO  announced the offshore investment in accordance with  the Outdoor Media network Strategy with the proportion of 25% in VGI Vietnam Joint Stock Company (“VGI Vietnam”)  provider of Digital Outdoor  Media having network spreading over Vietnam through its affiliated company VGI MACO  (Singapore) Private Limited (“VGIMS”).
 

Mr. Phoon Chiong Kit, CEO of Master AD Public Co., Ltd. or MACO , leader of Outdoor Media Network cited that Vietnam is regarded as a watchful country for investors worldwide with the population almost 100 million people whereas the GDP in 2019 growth reached 7.0%, therefore the buying power of the consumer is leaps and bounds resulting in the trading value of Vietnam to be as high as M 5.1 Dollar where the fast growth came together with the State policy, emphasizing on each province’s self- development plan.  Moreover, prior to this, Vietnam has signed the Trading Agreement with European Union which reduces tax in almost every kind of goods, thus more benefits for commercial and investment.  Money spent on advertising in Vietnam is around M 1.22 Dollar while advertising on TV is the most popular media, next is the newspaper media and outdoor advertising Media and Transit are the third type of money spent on Advertising expenses. 

The investment this time is the emphasizing of the vision of MACO to focus on expansion of Outdoor Media market to ASEAN Region while we have been successful in the business such as Malaysia and Indonesia.  The value of investment in Vietnam this time is at Trilion 3.5 Vietnamese Dong equal to approx. M 457.2 Baht while the Company anticipates VGIMS to enter into the Agreement and complete the transaction in March 2020.  With Such investment, MACO will bring Know-How to increase potentiality and more strength to VGI Vietnam and the major investment is also to increase the capital for VGI Vietnam to increase its capital and expand with leaps and bounds growth, the CEO added.

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*Reference Vietnamese information from Government Statistics Organization (GSO)
** Website statista.com/statistics/257578/ advertising-spending-in-Vietnam/