BCW (Burson Cohn & Wolfe) is working with Bangdko Sentral ng Pilipinas under a one-year $300K strategic communications contract to promote its economic initiatives and economic messages internationally.
As “international economic communications consultant” for the central bank of the Philippines, BCW will develop the PR framework with the objective of enhancing the perception of the country “as a competitive investment destination, raising the sovereign credit rating of the Philippines and strengthening communications links between the Philippines and international governments, financial and business communities,” according to its work agreement.
BSP wants the WPP unit to arrange at least 36 media interviews and organized roadshows in Asia, North America and Europe.
The PR firm will help the bank beef up social media accounts by “creating memes or other materials that may be shared through social media—containing messages of the Philippine economy.”
George Godsal, market leader for BCW Hong Kong, signed the agreement with BSP on July 24.
The central bank campaign supplements BCW's $700K push on behalf of the Philippines Dept. of Finance.
The Philippine Star reported Sept. 28 that BSP's projection of a 6.8 percent inflation rate for September was higher than the 6.4 percent rate anticipated by teh Dept. of Finance.
"Philippine policymakers are concerned about threats posed by soaring prices on the economy, which posted a sluggish growth of six percent in the second quarter--the slowest pace in three years," the Star reported.