Why not look to Norway? As a small, but highly developed nation, Norway offers a wide range of opportunities, combined with a good economic framework and a stable political environment should make Norway an interesting long term investment case. Despite being a relatively small nation of about 5 million people, Norway enjoys a top ten global ranking in various economic sectors (as of 2015):
- The second biggest exporter of fish and seafood products
- The third biggest exporter of natural gas
- The fourth biggest maritime nation
- The fifth biggest oil exporter
- The sixth biggest hydropower producer
Through fruitful co-operation between government R&D institutions and industry have developed technologically advanced industries in all the above sectors, with clusters of companies that cover a wide variety of products and services.
As a signatory of the European Economic Area (EEA) Agreement, Norway is an integrated part of the European Internal Market. In line with other European countries, Norway promotes free trade, is open to foreign investments and has also in this respect a business friendly framework.
As one of the richest countries in per capita terms, Norway has one of the best standards of living as well as education and life expectancy. A stable political environment and a respected judicial system ensure well-functioning markets and a top ten ranking in the World Bank’s Ease of Doing Business Ranking. Norwegian monetary policy successfully maintains a stable inflation and exchange rate. The use of the latest technologies and a focus on quality allows Norway to maintain its competitive edge.
All in all Norway presents a low-risk and long-term investment opportunity. Due to solid fundamentals, many analysts predict continuous economic growth in the years ahead.
Ten reasons for investing in Norway
- Rich in natural resources like oil and gas, marine resources, surplus of emission-free hydropower and forest resources.
- Strong economy, Second highest GDP/Capita in Europe, high purchasing power and the world’s biggest sovereign wealth fund.
- World class industries within oil and gas, energy, maritime and the seafood sector.
- Ease to do business; among top 10 of 180 countries on the Ease of Doing Business ranking.
- Competitive; ranked among the best on the World Competitiveness Scoreboard.
- Innovative work place; flat structures, a competent work force and egalitarian values stimulate innovation.
- Country of choice for R&D; close cooperation between the industry and R&D with 40 government funded clusters.
- Great place to live; Norway ranked first on the annual Human Development Index for several consecutive years.
- Network of airports; more than 50 airports with regular traffic makes it easy to reach out in the entire country
- Open, stable and predictable; political stability and a transparent political system make a competitive investment climate.
Further information can be found on Invest in Norway’s webpages