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Innovation Norway

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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Innovation Norway

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  1. 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

  2. Innovation Norway • Started its activities on 1 January 2004 by a merge of some important specialized institutions • Subordinated to the Ministry of Trade and Industry • Activity: Business development through loans and financial support , focus on innovation, internationalization and tourism, programs and indiviual support, main focus on development in the districts of Norway and the SMEs • 750 employees in offices distributed throughout all of Norway’s counties and in 30 countries. The Head Office is located in Oslo. 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

  3. An organisation close to its markets Brazil Bulgaria Canada China Czech Rep. Denmark Estonia Finland France Germany HungaryIndia Italy Japan Korea Latvia Lithuania Malaysia Poland Portugal Romania Russia Singapore South Africa Spain Sweden Thailand The Netherlands Turkey United Kingdom USA Vietnam

  4. Some more facts about Norway of today • Export 2006 Euro 107 bln • of which export of oil and gas Euro 53 bln • Import 2006 Euro 67 bln • Unemployment 1,6 % (April 2008) • Consumer price index (inflation) 2,5 % (April 2008) • GPD per capita (NOK 461.665) Euro 57.708 • GDP growth 2007 about 6 % • Will slow down in 2008 • Norway is presently experiencing a very high economic activity. Labour market capacity limits are being challenged in both the private and public sector. As a result a need for buying capacity outside Norway as well as import of workers from abroad.

  5. Slovenia – Norway trade balance

  6. Norwegian – Slovenian Business Activities • Norwegian companies engaged in business in Slovenia • Norsk Hydro – aluminium supplies from Talum • Statoil – oil trading/sales • Stokke – furniture production • Windy Boats – sales of pleasure crafts • Jotun - paints • Simrad – ship electronics • Swix – ski wax • Jordan - toothbrushes • Brynje - underwear • Helly Hansen – sports wear

  7. Norwegian – Slovenian Business Activities • Slovenian companies engaged in business in Norway • Alpina - skiboots • Elan – skis, ski equipment, sailboats • Gorenje – kitchen/household appliances • Adria – camping wagons

  8. Business in Norway 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.

  9. Business in Norway (2) 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.

  10. Norwegian Strategic Business Areas • In – coming Tourism • Oil and Gas • Health and bio technology • Renewable Energy and Environment • ICT • Marine products • Maritime • Creative industries

  11. In coming Tourism Focus : • Sweden • Germany • Denmark • UK • Netherlands • USA • France • Italy • Spain • Japan New markets: • Russia • China • Poland Innovation Norway has offices with professional staff in all these markets running tourist projects

  12. Oil & Gas 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

  13. Oil & Gas (2) 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.

  14. Oil & Gas Technology supply industry 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: www.intsok.no

  15. Health , medical - and bio technology 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

  16. Focus areas within Renewable energy and environment • Renewable energy - wind and hydropower, wave and tidal, bioenergy, solar energy , other incl geothermal • Hydrogen and fuel cells • CO2- catching and clean gas power station • Energy efficiency

  17. Marine food and Aquaculture • Norway is the 2nd largest exporter of marine food after China. Total export was USD 4,2 bln in 2006. • Farmed seafood about 52 % of total export. • Norway is producing 46 % of the total world production of atlantic salmon , that is about 600.000 ton in 2006 • Pelagic fish – herring and macrell – is primarily exported to Russia, Ukraine, Japan and Poland • Norwegian consumption of seafood is about 100.000 ton/year or more than 25 kg/capita

  18. Maritime Sector • Ever since the days of sails, shipping has been one of Norway`s most important industries.Foreign trade statistics show that gross freight income from shipping reached almost Euro 10 bln. • Freight income accounted for about 12 % of total Norwegian export of goods and services (incl oil and gas). • 1st January 2005 the Norwegian foreign going fleet comprised of 1.614 ships – mostly very specialized carriers of oil, gas and other specilized cargo. • The Norwegian-controlled offshore fleet is the second largest in the world after USA

  19. Maritime Sector – shipbuilding and ship equipment Total turnover: NOK 31 mrd, 18.000 employees • 12 Shipyards.Turnover NOK 9,5 mrd, 4.000 employees • Suppliers of ship equipment – 139 companies. Turnover NOK 12,3 mrd, 6.500 employees • Ship consultants- 14 companies, turnover NOK 450 mill

  20. Norwegian ”clusters”

  21. Norwegian ”clusters” (2)

  22. Norwegian ”clusters” (3)

  23. Norwegian ”clusters” (4)

  24. Norwegian ”clusters” (5)

  25. Norwegian ”clusters” (6)

  26. Where to obtain market info ? 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.-. http://www.chamber.no/

  27. Where to obtain market info ? (2) The official Norwegian Trade Portal: www.nortrade.com 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: http://www.norway.si/

  28. Starting business in Norway Info available on the following items on : http://www.bedin.no/CWObjekter/Guide_starting-engelsk-TOC.shtml Register your business Type of business entity Value added tax Accounting Employment Taxation Import and export of goods Business plan Who can tell

  29. Visit our website at: innovationnorway.no

  30. Thank you very much for your attention ! • bjorn.bjornsen@innovationnorway.no

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