Innovation Norway

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Information about Innovation Norway

Published on October 26, 2007

Author: Gulkund


Norwegian-Russian economic relations, market opportunities and developments:  Norwegian-Russian economic relations, market opportunities and developments Roger Håkon Mikkelsen, Consul Commercial Affairs Innovation Norway, Murmansk Royal Norwegian Consulate General, Murmansk Innovation Norway:  Innovation Norway Started its activities 01.01.2004 Took over the initiatives formerly offered by the Norwegian Regional and Industrial Development Fund The Norwegian Trade Council The Norwegian Consultative Office for Inventors The Norwegian Tourist Board 750 employees in offices distributed throughout all of Norway’s counties and more than 30 countries Slide3:  Mission Innovation Norway shall promote nationwide industrial development both with respect to the business economy and Norway’s national economy and be a facilitator in releasing the different regions potential by contribution to innovation, internationalization and promotion of the industry Slide4:  Offices in all of Norway’s counties and in 34 countries Innovation Norway – representative offices INNOVATION NORWAY - Consulting and practical assistance - Finance support & services :  INNOVATION NORWAY - Consulting and practical assistance - Finance support & services Consulting and practical assistance:  Consulting and practical assistance Slide7:  Representation offices in Russia Moscow (Royal Norwegian Embassy) Roger Martinsen, Commercial counsellor, station manager St. Petersburg (Royal Norwegian Consulate General) Nikolai Shavrov, Station Manager Murmansk (Royal Norwegian Consulate General) Roger Håkon Mikkelsen, Consul Commercial Affairs, station manager Services for companies:  Services for companies Connections to decision-makers / local authorities Perform market research and partner search Act as strategic discussion partner and troubleshooter Advise choosing most relevant cooperation model and assist with company registration Arrange business delegations, exhibitions, workshops, seminars, receptions, meetings etc. Tailor-made services according to individual needs Etc Finance support & services :  Finance support & services Slide10:  The funds territorial boundaries The Russia, CIS and Balkan Funds:  The Russia, CIS and Balkan Funds The investment fund for Russia, CIS and Balkan 120 mill. NOK (~18,5 MUSD) The investment fund for North-West Russia 150 mill. NOK (~23 MUSD) The consultancy fund for North-West Russia 30 mill. NOK (~4,6 MUSD) Russian-Norwegian economic relations:  Russian-Norwegian economic relations Trade between Norway and Russia – current developments:  Trade between Norway and Russia – current developments Total foreign trade development: BNOK 15.1 – ca. 9% increase from 2005 to 2006 (22% increase from 2004 to 2005) Norwegian export to Russia: BNOK 5.1 – ca. 6 % decrease of from 2005 to 2006 (ca. 56% increase from 2004 to 2005) decrease in 2006 mainly due to the Russian ban on export on fresh fish from Norway which dropped 15% - value of ca. 0.5 BNOK - in 2006 Norwegian import from Russia: BNOK 10.0 – ca. 14% increase from 2005 to 2006 (ca. 9% increase from 2004 to 2005)   Russian Offshore - Northwest:  Russian Offshore - Northwest Focus areas :  Focus areas Strategic industries Oil & gas – supplier industry Energy Sea food Tourism Strategic countries/markets Russia; NWR, Central regions Established SME’s with potential to succeed Depending on where there are potential for Norwegian businesses Slide16:  Possibilities for Norwegian companies in Russia? The years of the “arctic cowboys” are over Huge (and rapidly growing) market potential Russians exporting raw materials Oil & Gas, a powerful driving force More internal production Norwegian expertise and know-how More Norwegian companies looking east Murmansk/Archangelsk vs. St. Petersburg/Moscow Expectations, ambitions, possibilities etc. “Prirazlomnoe” Project – Norwegian Suppliers:  “Prirazlomnoe” Project – Norwegian Suppliers Norwegian offshore technology and expertise used in Russia Fokus area: North West Russia:  Fokus area: North West Russia Archangelsk oblast: 1,3 mill – Archangelsk city: 360.000 Murmansk oblast: 0.9 mill – Murmansk city 330.000 Republic of Karelia: 0,7 mill – Petrozavodsk: 265.000 Nenets autonomus okrug: 0,042 mill – Naryan Mar: 18.000 Republic of Komi: 1,2 mill (Syktyvkar: 300.000) Nordland county: 235.000 Troms county: 154.000 Finnmark county: 73.000 Focus area: Northern part of Norway Ca. 4.150.000 Ca. 460.000 Slide19:  Norwegian companies registered in NWR Norwegian ownership/Daughter company, Branch office, representation office etc. Salary paid to Russian employees 80 Norwegian companies confirmed established in NWR, Estimated approx. 1.000 man-labour years in Norway/Russia Bank & finance Building/Contracting industry Property/Real estate Fishing industry Oil & Gas related business Media, Press and IT Business services Research/Science Trade Transport/logistics Industry/production Tourism Some general advices:  Some general advices Bureaucracy & Legislation Language & Cultural differences Corruption/bribes Access to reliable information Business infrastructure Qualified labor force “Mafia”

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