Ludgate enlisted for Romanian sell-offs

The Romanian government has recruited Ludgate Communications to help foster understanding of the country’s privatisation process and the notion of private share ownership.

The Romanian government has recruited Ludgate Communications to

help foster understanding of the country’s privatisation process and the

notion of private share ownership.



Officially appointed earlier this month by the Romanian National Agency

for Privatisation, Ludgate has teamed up with specialist East European

PR outfit Woodstock Leasor in London and advertising parent

McCann-Erickson in Bucharest to explain the workings of capital markets,

and the stock exchange in particular, to Romania’s 17 million

people.



Around half a dozen other consultancies tendered for the contract in

November.



Funded by the European Commission’s Phare programme, the 12-month

campaign carries a budget of 750,000 ECU (pounds 536,000) and is part of

a 25 million ECU (pounds 18 million) European Union package of financial

and technical assistance.



The communications campaign is also linked to the economic reform

programme of Romania’s new prime minister Victor Ciorbea. The government

has pledged to speed up the privatisation of banks as a way of winning

back loans frozen by the International Monetary Fund and World Bank in

1996. It also intends to sell off other state-run firms, including oil

refineries, and reinvigorate popular interest in share ownership.



The previous government’s mass privatisation programme proceeded slowly

and the old system of distributing vouchers to the public failed to

elicit much enthusiasm.



Ludgate managing director Tony Friend, who is leading the account, said

that the project in Romania would allow the agency to broaden its areas

of capability.



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