NIBC - Facts about Norwegian Business

Some Facts about Norwegian Business

DID YOU KNOW THAT:

Trade between Norway and Ireland totalled more than IEP 700m (1997).

Norway is part of the EU internal market as a member of the European Economic Area (EEA).

Almost 80% of Norwegian exports go to EU countries.

Norway has one of the highest GDP per capita in the world (USD 33,000)

Norway is the largest salmon producer in the world (330,000 tonnes).

Norway has a very stable political environment.

Most Norwegians have a good command of English.

There is a broad range of high tech industries, suppliers and manufacturers in Norway.

DOING BUSINESS WITH NORWAY

Financial

Well capitalised companies

Strict financial control

Adherence to commercial terms

Highly advanced banking system

Deregulation of business and reduction of bureaucracy

Capital and earnings can be freely repatriated subject to taxation

Open attitude towards foreign co-operation and investments

Management

Open and informal with an accessible top management

Hands-on at most levels

Local management is responsible and has authority

Negotiators have decision making status

Highly motivated, educated and skilled staff and management

Positive towards co-operation and investments in joint ventures