Singapore – MediaCorp, along with Vietnamese media advertising firm FS Communications, listed confectionery company Kinh Do Corporation, and a group of Vietnamese businessmen, have invested in the newly formed International Media Corporation (IMC). Aiming to tap into the fast-growing Vietnamese media market and economy, MediaCorp took a 20% stake in the new venture which develops and produces entertainment and economic news content, and provides channel management services. As its first strategic investment in Vietnam, MediaCorp will lend its expertise to IMC in the areas of programming, branding, promotion, management, and airtime sales. In support of the government’s socialization effort, IMC will assist nationwide television broadcaster Vietnam Multimedia Corporation in launching a new TV channel in the second half of 2008. Lucas Chow, CEO, MediaCorp said, “Vietnam is not a new market to MediaCorp as our dramas, formats, artistes and (regional TV news channel) Channel NewsAsia are seen by Vietnamese households… We are excited by its prospects and potential as Vietnam’s advertising market has been growing at 20-30% annually. We also see this as the beachhead for more opportunities as we begin to participate actively in this market.” Lam Chi Thien, chairman of IMC is looking to tap MediaCorp’s regional distribution channels to provide more content in Vietnam.