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Economy of Norway and business opportunities

Economy of Norway

The economy of Norway is a developed mixed economy with state-ownership in strategic areas. Although sensitive to global business cycles, the economy of Norway has shown robust growth since the start of the industrial era. Shipping has long been a support of Norway's export sector, but much of Norway's economic growth has been fueled by an abundance of natural resources, including petroleum exploration and production, hydroelectric power, and fisheries. Agriculture and traditional heavy manufacturing have suffered relative decline compared to services and oil-related industries, and the public sector is among the largest in the world as a percentage of the overall gross domestic product. The country has a very high standard of living compared with other European countries, and a strongly integrated welfare system. Norway's modern manufacturing and welfare system rely on a financial reserve produced by exploitation of natural resources, particularly North Sea oil.

Industrial revolution

Aside from mining in Kongsberg, Røros and Løkken, industrialization came with the first textile mills that were built in Norway in the middle of the 19th century. But the first large industrial enterprises came into formation when entrepreneurs politics, leading to the founding of banks to serve those needs.

Industries also offered employment for a large number of individuals who were displaced from the agricultural sector. As wages from industry exceeded those from agriculture, the shift started a long-term trend of reduction in cultivated land and rural population patterns. The working class became a distinct phenomenon in Norway, with its own neighbourhoods, culture, and politics.

Social democratic reforms and state ownership

The state has large ownership positions in key industrial sectors, such as the strategic petroleum sector (Statoil), hydroelectric energy production (Statkraft), aluminum production (Norsk Hydro), the largest Norwegian bank (DNB) and telecommunication provider (Telenor). The government controls 31.6% of publicly listed companies. When non-listed companies are included the state has an even higher share in ownership (mainly from direct oil license ownership).

Oil-exporting country

The first oil field was Ekofisk, produced 427,442 barrels (67,957.8 m3) of crude in 1980. Since then, large natural gas reserves have also been discovered.

The Norwegian government established its own oil company, Statoil, and awarded drilling and production rights to Norsk Hydro and the newly formed Saga Petroleum.

The North Sea turned out to present many technological challenges for production and exploration, and Norwegian companies invested in building capabilities to meet these challenges. A number of engineering and construction companies emerged from the remnants of the largely lost shipbuilding industry, creating centers of competence in Stavanger and the western suburbs of Oslo. Stavanger also became the land-based staging area for the offshore drilling industry. Presently North Sea is past its peak oil production. New oil and gas fields have been found and developed in the large Norwegian areas of the Norwegian Sea and the Barents Sea, including Snøhvit.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Norway"

Global Tenders has one of the largest database of international and national tenders/competitive bids, procurement news, project information, contract awards, related to Norway from all over the world..

This section contains economy and business opportunities and from Norway.
Norway Economy Norwegian Economy, business opportunities in Norway.
Summary:
Facade Rehabilitation Of Helgeland'S Hospital Sandnessjøen
Country:
Norway
 
Notice Type:
Tender Notice
Deadline:
03 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Procurement Of Compliance System - Qualification Phase
Country:
Norway
Estimated Cost:
NOK 27000000
Notice Type:
Tender Notice
Deadline:
22 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
2024 Framework Agreement On The Supply And Supplementation, Maintenance And Advisory Services For Software Licenses
Country:
Norway
Estimated Cost:
NOK 65000000
Notice Type:
Tender Notice
Deadline:
20 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Framework Agreement On Foodstuffs (Foodstuffs)
Country:
Norway
Estimated Cost:
NOK 60000000
Notice Type:
Tender Notice
Deadline:
22 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Polymer For Sludge Treatment Of Water Mine Sludge And Sewage Sludge
Country:
Norway
 
Notice Type:
Tender Notice
Deadline:
21 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Ebe 18 - 2024 Sandgotna School - Ventilation Worker
Country:
Norway
Estimated Cost:
NOK 2600000
Notice Type:
Tender Notice
Deadline:
16 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Renewal Of Central Heating - Sanks Karasjok
Country:
Norway
Estimated Cost:
NOK 2800000
Notice Type:
Tender Notice
Deadline:
09 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Framework Agreement For The Purchase Of Electrician Services
Country:
Norway
Estimated Cost:
NOK 16000000
Notice Type:
Tender Notice
Deadline:
24 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Framework Agreement Legal Services - Npk
Country:
Norway
Estimated Cost:
NOK 4000000
Notice Type:
Tender Notice
Deadline:
24 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Conversion To Fyret Medical Centre
Country:
Norway
Estimated Cost:
NOK 10000000
Notice Type:
Tender Notice
Deadline:
27 May 2024
Posting Date:
18 Apr 2024
 
 
 

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