FTSE 100 listed advertising multinational WPP has reported that Y&R Advertising has opened Y&R Yangon, making it one of the first international networks to open a majority-owned advertising agency in Myanmar.
The group said that Y&R Yangon represented a joint venture with local partner K-Noke Advertising and would be led by Khin Myat Thu as General Manager, John Kyaw Myo Htun as New Business Development Director, and Aung Kyaw Oo as Director.
WPP said that the investment represented a further step towards its goal of developing businesses in the fast growing economies of Asia Pacific, as well as Latin America, Africa and the Middle East, Central and Eastern Europe.
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WPP's businesses including associates in the Asia Pacific region generate revenues of $5.0bn and employ approximately 47,000 people.
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