The newly released Arctic Business Forum Yearbook sums the investment potential of the European High North up to 144 billion euro by the year 2020. However, the global financial crisis has slowed down the investment projects in this area that includes the northern regions of Finland, Sweden, Norway and Murmansk and Arkhangelsk regions in Russia.
Some investment projects in the European High North are postponed and some are totally turned down.The energy sector is facing new challenges and changes. The role of US shale oil and gas is still unclear in global business. Decreasing industrial production due to financial crisis has decreased the demand of energy.
“These two factors have influenced the giant Shtokmanovskoje gas field project in the Barents Sea. The project seems to be postponed for decades. Due to the same situation Norwegian investments seem not to be proceeding either” says CEO Timo Rautajoki from Lapland Chamber of Commerce.
Politics have also started to disturb the business in the area. Crisis in Ukraine and Crimea have increased tension between Russian Federation and the EU and most of all with the USA. Sanctions against Russia, in case that the problems are not solved, will directly reflect on the investment plans. At the same time media is telling that military actions and bases in Arctic Regions are about to increase.
“The investments projects and the investors expect predictability in business. Right now the future on investments looks fuzzy as predictability has been shortened by both financial and political crises” Rautajoki states.
The Arctic Business Forum Yearbook introduces the high investment potential in the European High North. This year the Yearbook names the key investment projects in the regions, which could also give a boost to some other projects. Also the projects expected to start first and the projects that has been postponed to wait for the better times are identified. The 6th overview on the European High North investments and business development was published today by Lapland Chamber of Commerce in association with the Arctic Business Forum at Rovaniemi, Finland.
For further information
CEO Timo Rautajoki, Lapland Chamber of Commerce, tel. +358 40 5511 289, email@example.com
CEO Timo Rautajoki | Lapland Chamber of Commerce
RWI/ISL-Container Throughput Index ending 2017 on a positive note
24.01.2018 | RWI – Leibniz-Institut für Wirtschaftsforschung
Uncovering decades of questionable investments
18.01.2018 | University of Texas at Austin, Texas Advanced Computing Center
Breakthrough provides a new concept of the design of molecular motors, sensors and electricity generators at nanoscale
Researchers from the Institute of Organic Chemistry and Biochemistry of the CAS (IOCB Prague), Institute of Physics of the CAS (IP CAS) and Palacký University...
For photographers and scientists, lenses are lifesavers. They reflect and refract light, making possible the imaging systems that drive discovery through the microscope and preserve history through cameras.
But today's glass-based lenses are bulky and resist miniaturization. Next-generation technologies, such as ultrathin cameras or tiny microscopes, require...
Scientists from the University of Zurich have succeeded for the first time in tracking individual stem cells and their neuronal progeny over months within the intact adult brain. This study sheds light on how new neurons are produced throughout life.
The generation of new nerve cells was once thought to taper off at the end of embryonic development. However, recent research has shown that the adult brain...
Theoretical physicists propose to use negative interference to control heat flow in quantum devices. Study published in Physical Review Letters
Quantum computer parts are sensitive and need to be cooled to very low temperatures. Their tiny size makes them particularly susceptible to a temperature...
Let’s say the armrest is broken in your vintage car. As things stand, you would need a lot of luck and persistence to find the right spare part. But in the world of Industrie 4.0 and production with batch sizes of one, you can simply scan the armrest and print it out. This is made possible by the first ever 3D scanner capable of working autonomously and in real time. The autonomous scanning system will be on display at the Hannover Messe Preview on February 6 and at the Hannover Messe proper from April 23 to 27, 2018 (Hall 6, Booth A30).
Part of the charm of vintage cars is that they stopped making them long ago, so it is special when you do see one out on the roads. If something breaks or...
15.02.2018 | Event News
13.02.2018 | Event News
12.02.2018 | Event News
16.02.2018 | Information Technology
16.02.2018 | Health and Medicine
16.02.2018 | Physics and Astronomy