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Doing business in Norway

Norway is a prosperous country and one of the world’s most open economies with regard to trade volumes as well as to incoming and outgoing investment flows. Norway has one the world’s highest GDP per capita. Income distribution among the population is among the most equal in the world.

This makes Norway a high-cost country. Average wages and salaries are high, which puts labour intensive industries at a competitive disadvantage compared to countries with a lower wage level. However, a highly educated labour force and state-of-the-art technology still enable many Norwegian enterprises to successfully face foreign competition, abroad and at home.

Although Norway has opted to stay out of the EU, the country is nonetheless a member of the European Economic Area and thus a full member of the European internal market for most goods and services. This gives businesses located in Norway free access to a huge market of 500 million people.

Doing business is easy in Norway. The country rank as number six on Transparency International’s Corruption Perception Index for 2009, out of 183 countries. It ranks very high on competitiveness scoreboards such as those made by IMD and World Economic Forum, especially on such indicators as social and technological infrastructure, institutional framework, government efficiency, lack of bureaucratic red tape, a fair legal system, political stability and country-specific investment risk. Unemployment is very low compared to that in most other countries, and Norway has become a destination for migrant workers from all over Europe and beyond.

More information:
In order to obtain information in English about Norway or the Norwegian business climate, try one of the links below: