Doing Business with Norway
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Doing Business with Norway. Did you know that Norway…. Covers 1,100 miles from south to north – same distance as from Oslo to Rome or New York to Miami?. Encourages its citizens to submit income tax returns by cell phone?.

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Did you know that Norway…

  • Covers 1,100 miles from south to north – same distance as from Oslo to Rome or New York to Miami?

  • Encourages its citizens to submit income tax returns by cell phone?

  • Ranked 1st on UN’s index of best countries to live in for 5 years in a row?

  • Is the world’s 3rd largest exporter of both oil and gas?

  • Produces 99% of its electricity based on renewable hydropower?

  • Has a GDP per capita higher than the United States?

  • Is extremely ICT savvy – that 85% of 10 year olds have cell phones?

  • Was chosen by Google for location of its latest R&D facility?

  • Has the largest investment fund in Europe, valued at $300 billion – same as GDP?

  • Is currently building Europe’s first export terminal for LNG?

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NorwayMajor Economic Sectors

US - Norway Trade

  • $10.5 billion total.

  • $4.5 billion in petroleum from Norway.

  • $2 billion in machinery, ICT and transportation equipment from the US.

  • Energy - Oil/Gas/Renewables

  • ICT

  • Shipping/Marine Technology

  • Fisheries/Aquaculture

  • Metals

  • Pulp and Paper

  • Defense and Aerospace

  • Environmental Technologies

  • Travel and Tourism

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NorwayBusiness Climate

  • World-class telecommunication infrastructure and very high ICT literacy.

  • Extensive transportation network by air, sea and roads – roads in some rural areas can be a challenge.

  • Modern logistics and distribution centers.

  • Predictability and stability.

  • High ethical focus.

  • Traditionally active state sector – strong labor movement.

  • High taxes – direct and indirect; marginal rates of about 50%, Value Added Tax of 25%, high fuel and auto taxes, and high “sin” taxes.

  • Relatively low costs for highly skilled engineers/scientists.

  • High labor costs/short working hours/long vacations.

  • Selling Factors

  • Norwegian companies are generally willing to pay for quality.

  • To Norwegians “new” is not necessarily better.

  • Hard selling techniques will get you nowhere in Norway.

  • Norwegians are typically not “tactical” negotiators; if they say your product is too expensive, they probably mean it.

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NorwayOil and Gas Sector

  • Major Annual Investments

  • Norway’s most significant industry.

  • Projected 2007 investments: $17 billion.

  • 3 million barrels produced every day.

  • Production only offshore.

  • Statoil and Hydro are major customers and will merge in 2007; Statoil places orders for $5-6 billion annually from local suppliers.

  • United States holds strong position. Oil companies include ConocoPhillips, ExxonMobil, Chevron, Marathon, and Amerada Hess.

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Oil and Gas

Equipment and Services

  • Best Prospects – Technology in Demand

  • Advanced subsea and deepwater technology for extreme arctic waters…

  • CO2 handling - carbon capture and storage.

  • LNG value chain technology.

  • E-field – technology facilitating remote/onshore, real-time operations.

  • Marginal field technology, enhanced recovery, tail-end production.

  • High and growing focus on new and advanced environmental technologies.

  • Technology facilitating cost reductions of any kind.

  • Decommissioning/abandonment technology – alternative use of installations.

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Renewable Energy

Green Technologies

  • Best Prospects – Technology in Demand

  • C02 capture and storage.

  • Wind power.

  • Hydropower.

  • Solar power.

  • District heating.

  • Geothermal energy.

  • Waste incineration technologies.

  • Tidal power and wave energy.

  • Electric vehicles – battery technology.

  • Alternative fuel and fuel efficiency – vehicles/ships.

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Innovative ICT Industry Seeks Sophisticated Solutions

  • Large public ICT contracts: new national pension reform, bank ID/biometric ID cards, citizen portals.

  • Applications for energy sector: real-time remote operations for extreme conditions, advanced seismic data visualization software, security systems.

  • Applications for healthcare technologies: telemedicine, electronic patient records, data handling/storage, logistics software.

  • IP technology, Internet and wireless services and content, non-voice services, advanced security measures.

  • Shipbuilding and offshore design, simulation and construction solutions, logistics software.

  • Enterprise Resource Planning software for SMEs.

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Healthcare TechnologiesBiotechnology

  • 85 state-owned hospitals managed by four regional health enterprises.

  • Current investment plans valued at $3 billion.

  • $250 million annually in medical equipment procurements.

  • Telemedicine/e-medicine growing in importance.

  • Reduction of occupancy rates – cutting overall costs.

  • Biotech

  • Cancer research.

  • Marine biotech/Aquaculture.

  • Bioprospecting.

  • Biobanks.

  • Animal biotech.

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Competitive Shipping and Offshore Cluster

  • Norwegianfleet 5th largest in the world.

  • Fleet of mobile offshore rigs 2nd largest, after the United States.

  • 15% of world fleet for offshore services.

  • Two of the three largest ship brokerages.

  • 10% of world’s maritime banking services.

  • Underwriters account for 20% of insurance.

  • Norwegian classification companies classify 15% of world tonnage.

  • Oslo Stock Exchange regarded as the world’s largest shipping exchange.

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USA Pavilions at Trade Shows

  • Nor-Shipping 2007

  • Oslo – June 12-15, 2007

  • (Shipping and Maritime)

  • Reiseliv 2008

  • Oslo – Janurary 10-13, 2008

  • (Travel and Tourism)

  • Offshore Northern Seas 2008

  • Stavanger – August 26-29, 2008

  • (Oil and Gas)

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Following Up

Please contact us to take advantage of U.S. and Norwegian trade and investment opportunities.

The American Embassy in Oslo’s Web site is “”; the Commercial Section’s is “”

Thank you!