SINGAPORE--Singapore is searching for PR firms in the US and UK to help build its appeal as an investment destination.
The Holmes Report understands that the country’s Economic Development Board (EDB) is tendering briefs in both countries, as it attempts to improve its standing among investors and businesses.
The developments come after the Holmes Report revealed that the Lion City’s EDB had begun the search for an international firm last year. That process culminated in a relationship with Grayling, which has also been handling the UK account.
Agency meetings have been underway in both markets over the past two weeks, although the two reviews are understood to be separate.
Other key global markets have also been reviewed this year. In Brazil, the EDB hired Andreoli MSL, while it also appointed Ruder Finn to handle its efforts in China.
Singapore is already considered one of the world’s leading financial centres, but is aiming to step up its competitive positioning versus New York, London and Hong Kong. It is understood that the EDB wants to advance its appeal beyond just economic factors, using the city’s attractiveness as a place to live and do business.
The reviews follow news that the Singapore Exchange is seeking PR advice to help raise its global profile. While Singapore ranks second among listed bourses, it remains dwarfed in market capitalization by regional heavyweights in Tokyo, Shanghai and Hong Kong.
Earlier this year, separately, Singapore hired Baldwin Boyle Shand to handle a sensitive international repositioning assignment.