Business environment and opportunities in Norway Chamber of Commerce and Industry of Slovenia, 13 May, 2008 Mr Bjørn O. Bjørnsen, Director, Central Europe and the Baltic`s Innovation Norway Commercial Counsellor, Royal Norwegian Embassy, Prague. Innovation Norway.
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Business environment and opportunities in NorwayChamber of Commerce and Industry of Slovenia, 13 May, 2008Mr Bjørn O. Bjørnsen, Director, Central Europe and the Baltic`sInnovation NorwayCommercial Counsellor, Royal Norwegian Embassy, Prague
Around NOK 4 billion- Euro 500 mill - for the reinforcement of Norwegian industry
Innovation Norway contributes to the establishment and protection of 7,000-8,000 jobs each year
South Africa Spain
Norway is a highly developed democratic society with a strong and stable economy that offers attractive opportunities
for international business enterprises.
Foreign capital, knowledge and technology have traditionally played an important role in the development of Norwegian trade and industry, and international cooperation has become even more important to Norway's growth in an increasingly global economy.
Though Norway has chosen not to become a member of the European Union (EU), Norwegian and foreign owned companies located in Norway have full access to the EU market – including the new member states – through the European Economic Area (EEA) agreement.
There is a stable and transparent political climate with a well-functioning public sector that makes it relatively simple and straightforward to run a business enterprise.
Formal requirements to be met when establishing a business in Norway are few, and costs are low.
Norway has a flat 28% corporate and capital gains tax rate and a social security system that provides national health and unemployment insurance.
Innovation Norway has offices with professional staff in all these markets running tourist projects
Exploration of oil & gas at the Norwegian continental shelf started in 1971.
Presently oil/gas exploration takes place at 51 different fields
About 40 % of the registered resources are not yet explored.
Oil & gas products is the larges single export ”product” from Norway and represents 47 % of the total export – about NOK 510 bln or Euro 64 bln.
About 80.000 persons are employed in the oil & gas sector
Norway is today the world`s 3rd largest exporter of natural gas , in 2006 total production was about 87 bln scm (standard cubic meter).
Total oil production is now about 2,5 mill barrels/day (incl NGL and condensate). By this Norway is the 8th largest producer of oil in the world and the 3rd largest exporter of oil.
The Norwegian oil & gas industry cluster is expanding its international business activities and is now involved in the most challenging global projects –mostly offshore – mainly in North Sea, China, Russia, Middle East, Mexico gulf .
Estimated total turnover in 2005 was NOK 50 bln (Euro 6,2 bln) and the aim for 2010 is NOK 80 bln , about Euro 10 bln.
The largest part of the foreign activities and turnover is handled by the 20 largest companies.
The oil & gas supply industry comprises of about 3.000 companies.
Most of the companies that work on the international markets are member of the INTSOK network:
Norway has one of the worlds largest per capita investment in new hospitals.
In parallel to such projects Norwegian companies are developing new products and solutions , incl focus on ICT solutions to secure safe and good communication between the different levels in the health sector.
This incl tele medicin and standardization of electronic solutions. As well as new operating methods.
Norway has around 110 companies within bio technology and about 200 companies within medical technology, mainly SMEs.
The companies are active within ICT health, electronics, sensor technlogy, equipment for laboratories, rehabilitation, medical bio technology etc. Other areas include gene technology, cell biology, micro/nano technology and bio informatics
Total export was USD 4,2 bln in 2006.
Total turnover: NOK 31 mrd, 18.000 employees
Oslo Chamber of Commerce can produce a MINI MARKET REPORT showing the potential for your products on the Norwegian market. The report will include:- general market trends in Norway for your type of products- distribution channels- competitors and other operators in the market- some trade leads and relevant contacts, such as branch organizations etc.Total price for the report is EUR 700.-.
The official Norwegian Trade Portal:
Here you can also by a click find the official Norwegian Trade Directory as well as a lot of relevant and detailed info about companies as well as how to do business with Norway
The website of the Norwegian Embassy in Ljubljana:
Info available on the following items on :
Register your business
Type of business entity
Value added tax
Import and export of goods
Who can tell