August 22, 2019 - Mount Vema - More than five cash rich Mount Vema companies have unveiled plans to spend more than 18 million golles (just over $20 million dollars) to pay for a new marketing campaign during the fiscal year 2019-2020. The companies including the RBMV Bank and W-Southern which made enough money on the Mount Vema stock market plan to boost their advertising budget by the end of the year.
Plans to partially lift restrictions on advertising campaigns related to Mount Vema and related projects was announced today. His Mount Vema Majesty’s Government said in a statement that it will allow government departments, agencies and project participants to partially resume spending on advertising.
The news comes after the Kingdom of Mount Vema cancelled last month a worldwide marketing strategy that would have resumed a long-planned advertising campaign to market Mount Vema abroad from September this year.
Today the government changed its guidelines after the Ministry of Foreign Affairs and Trade revised its advise stating that it sees improvement in the way search engines are now dealing with fake news and defamation against the Vema Seamount territory.
Online advertising agencies and companies will lose about $10 million US dollars a year and more as the Kingdom of Mount Vema plans to cancel a worldwide marketing strategy that would resume its long-planned advertising campaign to market Mount Vema abroad from September this year.
The government said that search engines inability to deal with fake news and defamation against the Vema Seamount territory is making it difficult to spend in advertising. The Royal Mount Vema Department of Foreign Affairs and Trade said in a statement today that no matter how much we spend, it would only benefit the websites who are willing to write and publish anything defamatory about the Kingdom of Mount Vema and direct traffic to their websites.
The Government said unless this issue is dealt with, apps and tech companies that make most of revenues from advertising, will continue to miss on potential revenues from Mount Vema and its project participants. So far planned campaigns on Twitter, Facebook, Bing and Google were already postponed until further notice, and services of two leading advertising apps that would take Mount Vema ads to Google, Bing and including CNN and the New York Times were also cancelled yesterday.
The news comes after the government announced that His Mount Vema Majesty King Peter has officially initiated talks with regional leaders for trade and regional development.