Faroe Business Report — The International Review of Faroe Islands Industry and Trade - Faroe Business Report — The International Review of Faroe Islands Industry and Trade
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Expect More Mergers and Acquisitions
Written by B. Tyril —
BankNordik Corporate Finance, an undisputed leader in its field, offers comprehensive advice for foreign investors looking to increase their interests in the Faroe Islands as well as helping Faroese companies expand into overseas markets.
Since its inception in 2006, BankNordik’s dedicated Corporate Finance team has been involved in some of the most major corporate deals in the Faroe Islands, including this summer’s 1.1 billion dkk (148m eur) acquisition of fishmeal and feed factory Havsbrún by aquaculture company Bakkafrost. -
Toftir Harbour: Big Changes Ahead
Written by B. Tyril —
Three years after the launch of a locally based shipping company, Toftir Harbour sees business activities increase as fish processors resume production — and a major infrastructure plan moves forward after frustrating delays.
Even as added business services move in and local fish processors resume production after a period of uncertainty, the Municipality of Nes — the port authority for Toftir Harbour — braces for major change. According to the mayor, Símun Johannesen, the fact that several setbacks for plans to construct a giant submarine tunnel to Tórshavn have recently been overcome is cause for cautious optimism. -
Open Registry Should ‘Stick with Strategy’
Written by B. Tyril —
It will take a total of 300 to 500 international merchant vessels in the FAS ship registry before any serious economic impact may result for the Faroe Islands, according to maritime consultants of Shipping.fo.
With about 60 vessels registered under the Faroe Islands International Ship Register (FAS) almost two decades since its inception, some would argue that plans to build a successful registry of merchant ships flying the Faroese flag have moved little forward. Strictly numerically speaking, they would be right; yet a closer look at recent developments would suggest otherwise. -
Pooling Pelagic Stocks to Solve Disputes?
Written by B. Tyril —
The Faroese are looking to suggest radical reform of the distribution keys used in Coastal States management of migratory fish stocks — by grouping herring, mackerel, and blue whiting together into a single complex to defuse disputes.
It had nothing to do, at least in theory, with the ‘Pelagic Complex’ event, held in the Faroe Islands on 7th to 9th September last year. Nonetheless, the dispute over the northeast Atlantic mackerel fishery made itself present at the international conference not just through the absence of some of the invited representatives from the EU but also as an ongoing controversy frequently referenced in the news at that time.
Welcome to the 2011 Edition of the Faroe Business Report
I’m proud to present the 6th edition of the Faroe Business Report. It’s a pleasure again this year to bring you this information package about the Faroese business scene in cooperation with leading businesses and government departments and agencies. I encourage you to take a read to check the state of affairs in the Faroese business environment and see what some of the main events are compared to last year or a few years back. I guarantee that there’s quite a few things that happen in the course of a single year — major change can occur very quickly in the Faroe Islands.
Búi Tyril
Publisher and Editor in Chief
Reach International Businesspeople with an Eye on the Faroe Islands
Sponsoring an article or placing an ad in the Faroe Business Report is a great way of accessing important market segments or conveying your values to key constituencies. For those keen to share with an international audience what their position in the Faroe Islands may mean, this yearly publication is recognized as the information medium of choice — an undisputed leader in its field.
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Sannførandi søgur byggja álit millum viðskiftarar og veitarar
Fyri bæði fyritøkur og stovnar er umráðandi at samskifta væl við umheimin, soleiðis at góð og hóskandi kunning altíð er tøk í rættari tíð. Hesin samskiftis tørvur ger seg altíð galdandi, eisini tá vit ikki beinleiðis síggja hann.
Hetta kemst millum annað av at broytingar við meir ella minni avgerandi ávirkan á virksemið hjá fyritøkuni ella stovninum kunnu henda óvæntað skjótt.