Norway needs more international companies to establish a presence here. Why?
This is what our 18 dedicated experts work on every day. The team is called Invest in Norway and connects international investors with opportunities, centres of expertise and industry clusters in Norway.
New jobs do not create themselves
New value chains are emerging, technology is advancing rapidly, and countries are competing to attract the industries of the future.
International companies continually assess where to establish new operations. These may include manufacturing facilities, research centres, energy projects or other industrial ventures. At the same time, regions across Europe are competing for the same investments.
For Norway, this is about far more than capital. It is about what the investments set in motion.
«Many people think of foreign investment primarily as capital. For us, it is first and foremost about people, jobs and new market opportunities for Norwegian companies. It is the wider impact that creates long-term value.»
When an international company chooses to establish a presence here, it can generate activity throughout the value chain. Norwegian suppliers gain new contracts. Local centres of expertise gain new business partners. New technology and international experience become part of the business landscape.
These wider benefits are what make the investments valuable.
There are several ways to attract foreign direct investment
Foreign direct investment, often referred to as FDI, is when a company makes a long-term investment in a business in another country.
This may involve establishing a new business, expanding existing operations, acquisitions or strategic partnerships.
The companies establish operations, hire people, build expertise and become part of the local business community where they choose to invest.
Foreign direct investment is therefore considered an important driver of industrial development and innovation. The OECD highlights that such investment contributes to higher productivity, technological development and stronger links to international markets.
In practice, this means that Norwegian companies can learn new ways of working, adopt new technology and gain access to international networks that enable them to create more value with the same resources.
Investors choose locations, not countries
Although the investment is formally made in Norway, the country alone rarely determines the outcome. Investors choose specific locations.
They assess access to energy, expertise, commercial sites, logistics, suppliers and business partners. They look for locations where they can succeed quickly and continue to grow their business over time.
This means that competition for investment largely takes place at regional level.
«Innovation Norway has played an important role in opening doors to relevant networks and highlighting the opportunities available in Norway for further investment and growth.»
For an investor, the decision to choose Norway over another country may depend on how well prepared a region is when an opportunity arises.
‘Investors do not buy a map of Norway. They choose a location that can help them succeed. We must be ready with the right expertise, partners and projects when the opportunity arises. Many investment decisions are made quickly, so it is vital that investors can easily find the right location, infrastructure and resources,’ says Madsen.
Cathrine Thomassen, CEO of GE Healthcare AS, emphasises that access to organisations that understand business, research communities and public funding schemes is important for international companies looking to grow in Norway.
Why we actively work to attract more investment to Norway
In a world where competition for investment is intensifying, we cannot simply wait for companies to find their own way to Norway. Most countries actively seek to attract businesses that can contribute to growth, innovation and jobs. That is why we have Invest in Norway.
At Invest in Norway, we work to attract more international companies to establish and grow their businesses in Norway. We make it easier for international companies to discover opportunities in Norway, find the right business partners and explore specific locations.
This may involve promoting Norway’s competitive advantages internationally, identifying companies with investment plans, and connecting them with regions, businesses and centres of expertise that are ready to welcome and support new business establishments.
Our goal is not to attract as many investments as possible, but to attract the right ones: those that strengthen existing business communities, create new opportunities for Norwegian companies and contribute to long-term value creation. But this takes time. Value continues to be created long after a company has established itself, and some of the most important benefits of an international establishment only emerge several years later.
Experience also shows that one successful investment often makes a region more attractive for the next. When an international company succeeds in a particular location, it becomes easier for others to recognise the same opportunities.
