Attracting foreign direct investments to Norway State Secretary Oluf Ulseth Ministry of Trade and Industry The American Chamber of Commerce Wednesday, October 23rd, 2002

Foreign investments has played a central role in Norway

A small and open economy Main export goods from Norway

A balanced development Central Bank, Norway

Total FDI in Norway, stocks Central Bank, Norway Ministry of Finance Economist Intelligence Unit

Business Policy Challenges Economic globalization Need for growth in non-petroleum industries to reduce dependency on the petroleum sector Need for a comprehensive approach to innovation Modernising the large public sector Further reduction of state ownership in the Norwegian economy

A Sound Business Environment Responsible macro-economic policy. Prudent use of oil revenue in the economy Reduction of taxes and charges Simplifying rules and regulations Cooperation in Europe and globally. Benchmarking Integrating industry interests in environment and energy policies

A Policy for Growth and Innovation Scientific research Applied research Commercial project A comprehensive approach to innovation Research and development policy is crucial for innovation Tax incentives for firms A strengthening of industry related research International R&D cooperation. Participation in EUs sixth Framework Programme Betydningen av den intellektuelle kapitalen for verdiskapning og konkurranseevne i næringslivet har fått økende oppmerksomhet de siste årene Intellektuell kapital: Samspillet mellom humankapital, strukturkapital og relasjonskapital Humankapitalen 3,5 time Høyt kvalifiserte relativt billige

State Ownership in the Norwegian Economy will be Further Reduced Ownership at the Oslo Stock Exchange.. The Norwegian Government controls large companies and assets Stricter corporate governance guidelines for commercial state owned companies will be introduced State ownership in the Norwegian economy will be reduced .. in addition to other key state assets USD bn

Success stories from Norway © Amersham Health: expansion of production facilities at Lindesnes. Norwegian continental shelf: Foreign capital important factor during build up. To extract more oil and gas, major investments still needed. ABB Offshore Systems: Head office located in Norway © ©

Invest in Norway Norway ranked fourth in the Potential Index in the World Investment Report. Structural changes underway which will give investment opportunities. Reform of political instruments: Proposal for an “Invest in Norway” function. Inform about opportunities Rules and regulations © Norsk Hydro AS and Bergesen d.y. ASA

Norway – attractive economy and market GDP per capita close to $30 000 at PPP ”Cheap” experts, managers and CEOs Skilled workforce Stable government Hay Group and the Economist Intelligence Unit