Green Network Technology


Norway has a total area of 385,252 square kilometers and a population of 5,109,059 people. It is the 2nd least densely populated country in Europe. The country has the fourth-highest per capita income in the world on the World Bank and IMF lists. On a per-capita basis, it is the world's largest producer of oil and natural gas outside the Middle East, from 2001 to 2006, and then again from 2009 to 2012, Norway had the highest Human Development Index ranking in the world. The OECD ranks Norway fourth in the 2013 equalized Better Life Index and third in intergenerational earnings elasticity.


Why Business in Norway?

Norway has a very strong economy. GDP pr. Capita is the second highest in Europe. The forecast for the coming years shows continuous growth through 2015. At the same time, the unemployment rate is expected to be around 3,5 %. The Norwegian State owns the world's biggest investment fund, The Government Pension Fund Global, with a about 5.000 billion NOK/600 billion Euro. The strong economy makes Norway an interesting market despite the market size. Norway has developed some world-class industries that aspire to be global knowledge hubs. First and foremost, these are oil and gas, maritime and the marin (seafood) sector. In addition to the three global industries, you will find three important complementary knowledge industries: the finance industry, the ICT industry and knowledge-based services. Lastly, you will find some potent and still emerging industries in Norway, like medtech, cleantech and biotechnology.
The Norwegian productivity is much higher than the average of the European Union. There are several reasons for this. One is the use of advanced technology and a constant focus on productivity due to high labor costs. Another is of course the extra value from the petroleum sector. The values of the Norwegian work life stimulate productivity and innovation. Some key elements are little hierarchy, flat structures, open communication and cooperation. The country is rich in natural resources, including oil and gas, hydropower, fish, forests and some minerals. The development of the hydroelectric energy sector at the beginning of the 20th century triggered industrial growth, particularly within the aluminium and ferroalloy industry, and fertilizer production. The discovery of large reserves of oil and gas in the late 1960s, gave further boost to the economy.