Qatar Financial Centre to review 10m ad business

The Qatar Financial Centre (QFC) is reviewing its £10m global advertising account, currently held by Vallance Carruthers Coleman Priest (VCCP).

The organisation, which was set up to attract international businesses to the country, has issued a request for proposal to a number of agencies, including the incumbent. VCCP won the business in April 2006 without a pitch.

The account includes advertising and below-the-line activity. It is believed agencies may be approaching the brief either as network teams, or in partnerships, to fulfil the integrated marketing objectives. The pitch is being handled by Steve Martin, the head of corporate communications and marketing for the QFC.

In the past, its advertising campaigns have targeted the business community, and have run across television and press.

It is believed that part of the brief will be to push Qatar as the next major emerging market and on the same level as its Middle East counterpart, Dubai.

Established in May 2005, QFC was set up to attract international financial institutions and multi-national corporations to establish businesses in Qatar and encourage foreign investment into the Middle East state.

The QFC consists of the QFC Authority and the QFC Regulatory Authority. The QFC Authority’s primary role is to promote the QFC as the leading location for international business, particularly targeting the banking, financial services and insurance sectors.

The QFC Regulatory Authority supervises financial services companies and financial institutions in or from the QFC and has the power to discipline financial institutions, companies and individuals.