While Norway has a small domestic market, it has favoured ties with the United States, a skilled and multilingual population, a modern economy and rich energy resources make it an FDI target. It also has a particularly favourable business climate, with its ranking of 9/190 for Ease of Doing Business, and setting up takes just 4 days. Norway also has a very strong economy, encouraging prospects for development, a well organised public sector, high quality infrastructure, and its information and communications sectors are strong.
Sweden and the Netherlands consistently rank as top investors in Norway, accounting for more than 30% of FDI, and investing in mining / quarrying, manufacturing, and financial services.
The Norwegian economy is largely based on the petroleum and gas sector, and the decline in prices and push against fossil fuels has led to an investment drop for oil companies in recent years. Also, the government introduced a new screening regime in 2019, allowing Norwegian authorities to investigate and block FDI on grounds of national security, national financial stability and autonomy. And the country has relatively strict labour laws that just accentuate the extremely high wage costs in Norway.
AUXADI can become your ideal investment partner in Norway. We offer a One Stop Shop value added Outsourcing services in the areas of Accounting and Reporting, Tax Compliance, Payroll Management and Representation services, among others.