Another look at Iceland investment opportunity

decrease font size  Resize text   increase font size       Printer-friendly version of this article Printer-friendly version of this article

The Prime Minister of Iceland, Sigmundur David Gunnlaugsson, announced at a London, England, conference that the economy has a bright future and that the time is right for foreign investors to return to Iceland.

I took special notice of Gunnlaugsson’s comments last week because I participated in a media tour of the country earlier this year and reported on the agricultural business opportunities in the country. As I noted, low-cost electricity from geo-thermal generating facilities is a big advantage for energy-dependent operations to locate in Iceland, which could be mega greenhouses and agribusinesses needing perfect climate control year round.    

In his keynote speech at Mergermarket’s Iceland Investment Forum, the Prime Minister announced: "It is five years since the financial crisis hit Iceland. We have come a long way since then. There are good foundations in Iceland that have helped us along; a resilient and well-educated population, a young and flexible labor force, abundant resources and beautiful nature that is attracting ever more visitors from abroad. The future for my country is, therefore, bright."

Mergermarket, an independent mergers and acquisitions intelligence and data service, hosted senior business executives in London to examine the opportunities in Iceland’s emerging sectors.

Foreign direct investment (FDI) has been recognized as a priority for the new government, with policies aimed to diversify the economy into industries such as pharmaceuticals, biotechnology, tourism and data centers.

Successive years of economic growth, falling unemployment and currency devaluation have contributed to Iceland shaking off the hangover of its financial crisis, speakers at the conference contended.

Höskuldur H. Ólafsson, CEO at Arion Bank, said: “At Arion Bank we are a committed participant in the rebuilding of the Icelandic economy. The country's rich natural resources, the high level of education of its population and its location offer a whole range of opportunities. While the last few years have been challenging, the wheels of the economy are turning, unemployment levels are falling, economic growth exceeds the EU average and the outlook is bright.”

During the last quarter of this year, there was one major business transaction in Iceland that included a biotech business opportunity and a couple other business transactions with no connection to agriculture.

Pamela Barbaglia, London bureau chief at Mergermarket, said: “The recent activity in cross-border M&A [mergers and acquisitions] shows how recently inflicted ‘scars’ haven’t undermined the attractiveness of premium assets. Iceland’s political class now has to prove that the recovery is sustainable and its economy has effectively diversified into manufacturing and services, while supporting young entrepreneurs and easing fiscal pressure over domestic businesses.”


Buyers Guide

Doyle Equipment Manufacturing Co.
Doyle Equipment Manufacturing prides themselves as being “The King of the Rotary’s” with their Direct Drive Rotary Blend Systems. With numerous setup possibilities and sizes, ranging from a  more...
A.J. Sackett Sons & Company
Sackett Blend Towers feature the H.I.M, High Intensity Mixer, the next generation of blending and coating technology which supports Precision Fertilizer Blending®. Its unique design allows  more...
R&R Manufacturing Inc.
The R&R Minuteman Blend System is the original proven performer. Fast, precise blending with a compact foot print. Significantly lower horsepower requirement. Low inload height with large  more...
Junge Control Inc.
Junge Control Inc. creates state-of-the-art product blending and measuring solutions that allow you to totally maximize operating efficiency with amazing accuracy and repeatability, superior  more...
Yargus Manufacturing
The flagship blending system for the Layco product line is the fully automated Layco DW System™. The advanced technology of the Layco DW (Declining Weight) system results in a blending  more...
Yargus Manufacturing
The LAYCOTE™ Automated Coating System provides a new level of coating accuracy for a stand-alone coating system or for coating (impregnating) in an automated blending system. The unique  more...
John Deere
The DN345 Drawn Dry Spreader can carry more than 12 tons of fertilizer and 17.5 tons of lime. Designed to operate at field speeds up to 20 MPH with full loads and the G4 spreader uniformly  more...
Force Unlimited
The Pro-Force is a multi-purpose spreader with a wider apron and steeper sides. Our Pro-Force has the most aggressive 30” spinner on the market, and is capable of spreading higher rates of  more...
BBI Spreaders
MagnaSpread 2 & MagnaSpread 3 — With BBI’s patented multi-bin technology, these spreaders operate multiple hoppers guided by independent, variable-rate technology. These models are built on  more...


Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left


LAYCOTE™ Automated Coating System

The New LAYCOTE™ Automated Coating System provides coating accuracy for stand-alone coating systems and for coatings (impregnating) in automated blending ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form