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Sector-specific opportunities in Norway

You should carry out as much market research and planning as possible before exporting to Norway, using both desk research and visits to the market. You need to determine if there is a market for your product or service and whether your pricing is competitive.

UK DIT’s trade specialists can help you identify local representatives for your products in Norway. See: https://www.gov.uk/overseas-customers-export-opportunities.

UK DIT provides free international export sales leads from its worldwide network. You can search for export opportunities in Norway at: https://opportunities.export.great.gov.uk/.

 

Government tenders in Norway

You can find high-value public procurement notices from the EU and European Economic Area (EEA) on Tenders Electronic Daily (TED), the ‘Supplement to the Official Journal of the European Union’, at: http://ted.europa.eu/TED/main/HomePage.do.

There is a legal requirement to publish public sector tenders on Norway’s online site (Doffin) at: https://www.doffin.no/en/Notice, and on TED, if they are above EU thresholds. See: https://www.ojec.com/?aspxerrorpath=/threshholds.aspx.

UK DIT has a document providing an overview of the business opportunities in the eight Nordic and Baltic countries, at: https://www.gov.uk/government/publications/business-opportunities-nordic-and-baltic-countries.

[Source –  DIT/gov.uk]

 

Energy

New discoveries over recent years will see some of the highest levels of investment across the globe.

These discoveries include:

  • the Johan Sverdrup field

  • new acreage being opened up in the Barents Sea

  • the Norwegian continental shelf

Opportunities for UK companies exist in:

  • field life extension

  • Enhanced/Improved Oil Recovery (EOR/IOR) technologies

  • maintenance and modification work

  • standardisation of solutions

  • electrifications from shore

Contact: comsec@online.no for more information on energy opportunities in Norway.

[Source –  DIT/gov.uk]

 

Financial services / banking

DNB ASA, Norway's largest financial services group with total combined assets of more than NOK 1.9 trillion, dominates the industry as the nation’s largest financial services company. It is headquartered at Aker Brygge in the heart of Oslo’s commercial financial district. Storebrand, the Nordic region’s leading provider of life insurance and pensions, is located in Lysaker.

The other financial powerhouse is the Norwegian Government Pension Fund Global, the investment vehicle for the country’s surplus oil revenue, placing its money in equities and bonds outside Norway. The fund is currently one of the world’s largest sovereign wealth funds.

The fund is not just known for its size, but also for its ethical investment strategy and good corporate governance. The fund is managed by Norges Bank Investment Management (NBIM), which also manages the major share of Norges Bank’s foreign exchange reserves and the Government Petroleum Insurance Fund.

According to World Economic Forum's Global Competitiveness Report 2016-2017, financial market development in Norway scored 5.2 out of a maximum 7.0 and ranked 9th out of 138 economies. Soundness of Banks in Norway scored 6.4 (7th place), and Trustworthiness and Confidence of the Financial Market scored 5.4 (17th place). See: http://reports.weforum.org/global-competitiveness-index/country-profiles/#economy=NOR

 

Renewables and the low-carbon economy

99% of power generation in Norway comes from clean hydro-driven installation. Government support is available for development of power generation from renewable energy sources.

Energy efficiency solutions are being used across the construction industry. The Norwegian Government runs the Enova initiative which encourages energy efficiency measures and new low-carbon energy.

Opportunities for UK companies exist in:

  • renewable technologies

  • energy efficiency

  • smart meters

Contact: comsec@online.no for more information on renewables and low-carbon economy opportunities in Norway.

[Source – DIT/gov.uk]

 

Quality consumer goods

Norwegian consumers are looking for quality, design and innovation. They are willing to pay a high price for quality products.

Opportunities for UK companies exist in:

  • clothing

  • accessories

  • footwear

  • food and drink

  • giftware

  • interiors

Contact: comsec@online.no for more information on quality consumer goods opportunities in Norway.

[Source –  DIT/gov.uk]

 

Shipping and logistics

The maritime industry in Norway is a global knowledge-based industry with a strong position in markets worldwide. With a total value creation close to US $175 billion and more than 110,000 people employed it is among the largest and most important industries in Norway. The industry also accounts for a large share of Norwegian exports.

This position is created through continuous innovation – an ability that is crucial now that the industry faces a weaker offshore market due to low oil prices.

Oslo has successfully combined its position as the country’s finance capital with its expertise within shipping and energy. There are close to 1,000 viable maritime companies and one of the most complete maritime clusters in the world.

Some of the financial service companies serving this market are DNB, one of the largest companies within ship finance, marine insurer Skuld, which provides protection and indemnity (P&I) and defence cover to shipowners and charters, and ship brokers RS Platou. Nordea is the world’s leader in syndicated loans to the shipping and offshore industries, followed by DNB.

There is one freight service linking Norway with the United Kingdom. The DFDS TorLine service operates a twice weekly rotation between Brevik & Immingham. Norway is connected to her largest neighbour Sweden with a frequent service between Sandefjord and Strömstad. There are also several routes linking Norway with Denmark, such as those from both Larvik and Kristiansand to Hirtshals and from Oslo to Frederikshavn and Copenhagen. There is also a connection from Oslo to Kiel in Germany.

The services from Norway to Sweden, Denmark and Germany carry a combination of both tourist and freight traffic.

Shipping & offshore network

The Norway Shipping & Offshore Network (formally Bulkforum) is an independent networking club which was founded in 1981 by 28 Norwegian shipping companies. Its original purpose was to organise market research related to tanker and bulk shipping markets, based on theoretical as well as practical expertise and knowledge. Since its foundation, the forum has grown and expanded in terms of scope, membership and activities. See: http://www.shippingoffshorenetwork.no/?page=1  for further information.

 

Security

Norway is a very safe country with a generally risk-free business environment. It invests heavily on defence resources.

Opportunities for UK companies exist in:

  • civil and defence technologies

  • cyber security

  • physical security

Contact: comsec@online.no for more information on security opportunities in Norway.

[Source – DIT/gov.uk]

 

Relocation

Norway offers a lot of activities for people who are fond of nature and prefer outdoor activities such as skiing. Relocation services in Norway provide foreign nationals moving to the country with more than just moving their valuables. Some companies also offer services such as information on currency exchange, residence and work permits, health insurance, public registrations, home and school finding among others.

Norway has ranked first on the annual United Nations Human Development Index (UNDP) for several consecutive years. See: http://hdr.undp.org/en/countries/profiles/NOR for the 2016 report, released March 2017.

 

Healthcare

Norway’s healthcare sector is developing. There are plans to build three new hospitals which will generate major investment opportunities. The government is also looking at ways to deal with the challenges in dealing with an increasingly aging population.

Opportunities for UK companies exist in:

  • new hospital builds

  • information and communications technology (ICT) infrastructure

  • services

  • medical and healthcare research

Contact: comsec@online.no for more information on healthcare opportunities in Norway.

[Source – DIT/gov.uk]

 

Infrastructure

The government has pledged to set up a £10 billion infrastructure fund to be built up over a maximum period of five years.

Norway‘s Government wants to reform and re-organise the railway system and construction of roads. This will open up transportation and construction projects for competition with the use of Public Private Partnerships (PPP).

Opportunities for UK companies exist in:

  • project planning

  • engineering services

Contact: comsec@online.no for more information on infrastructure opportunities in Norway.

[Source – DIT/gov.uk]


 

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