All posts by Margrethe Harboe

Top Takeaways from the U.S. Chamber’s 2023 State of American Business Address

Business News, Financial / Investment, Trade

In this year’s State of American Business keynote address, U.S. Chamber of Commerce President and CEO Suzanne P. Clark called for a commitment to an “Agenda for American Strength” that affirms America’s position as a global power for good and unleashes the innovating, problem-solving power of business to address society’s greatest challenges.

“Business is ready—we’re not waiting. We’re putting forward a plan, because that’s what business does…that’s why business works,” Clark said. “Today, the Chamber is calling for an ‘Agenda for American Strength.’ An agenda that will not only help us navigate the present moment but steer our country to the brighter, stronger future that we expect—and the next generation deserves.”

HERE are some top takeaways from Clark’s keynote address. (Click here to read the full speech transcript.)

Equilibrium — Scientists take steps toward ‘greener’ fertilizer

Business News, Chemicals / Metals

Scientists have set out to innovate a new type of ammonia that could help create “greener” fertilizer — and minimize the climate impacts of a ubiquitous but energy-intensive compound.

Industrial production of ammonia — a key ingredient in fertilizers — creates one of the world’s biggest chemical commodities but also takes a heavy toll on the environment.

Ammonia manufacturing consumes about 1 percent of all fossil fuels and unleashes 1 percent of global carbon dioxide emissions, chemists at the University of California, Berkeley, warned.

Read full article.

Norway’s $30 Billion of Projects to Sustain Gas Flow to 2026

Business News, Energy

Norway will be able to sustain gas production at last year’s elevated level until at least 2026 thanks to 300 billion Norwegian kroner ($30 billion) of investment in new offshore fields.


“Only rarely have we seen so much oil and gas produced on the Norwegian shelf as was the case last year – and only rarely have we seen such significant investment decisions,” the Norwegian Petroleum Directorate said Monday in its annual report. “Norway has fortified its role as a predictable, long-term supplier of energy to Europe.”

 

Read full article.

The Value of Confidentiality

AmCham News, Healthcare, ,

The Value of Confidentiality

A recent court ruling raises the question of confidentiality in Norway’s public procurement processes.

The Norwegian State procures goods and services in excess of NOK 600B per year. Most procurements are organized through competitive bids. The value of bid confidentiality thus becomes evident. Competition amongst bidders, for example on net price for a product or service, is meant to secure better value for taxpayer money in the short term. In the long run, competition drives innovation, access, and quality improvements.

The laws and regulations governing competition, trade secrets and confidentiality are somewhat similar throughout the European Economic Area. Therefore, a December 2022 Norwegian District Court ruling has gained attention well beyond Norway’s borders – where two US pharma companies lost a preliminary injunction plea to stop a tender bid issued by the hospital procurement agency LIS after several confidential net pricing leak incidents. While the Public Procurement Complaints Board (KOFA) stated that leaking of confidential net prices ruined the competition to the extent that the tender had to be cancelled, the District Court ruled otherwise. The ruling is one of very few, if not the only, examples in Europe where leaks of confidential net prices have had no consequences. Further, the ruling may have left industry with no legal recourse by establishing precedent on allowing de facto net price transparency despite legislation explicitly protecting such confidentiality.

"The ruling is one of very few, if not the only, examples in Europe where leaks of confidential net prices had no consequences."

Dr Muhammed "Mo" Ali

MSD Court Order (NO)

MSD Court Order (ENG)

Janssen-Cilag Court Order (NO)

The real question is to what extent this ruling has consequences across industries supplying the Norwegian State? One legal assessment argues that net prices may now be made public at the discretion of the State procurement body. It is also argued that, in the way the ruling is framed, suppliers who have been subjected to breach of net price confidentiality may hereafter have no legal recourse. If this holds true, no industry or supplier can be guaranteed confidentiality of their net prices. If the supplier operates in several markets, the ramifications of net price leaks in Norway may have far-reaching consequences.

Norway has ambitious plans to attract foreign investments and build industries to increase mainland exports by 50% by the end of this decade. However, the signals now being sent may not incentivize investments. While transparency is an obvious basis for any healthy business environment, confidentiality of key competitive assets in public procurement processes are equally as important. If not upheld, the State may risk not being offered the best prices on goods and services for fear of the prices not being kept confidential. 

"The real question is to what extent this ruling has consequences across industries supplying the Norwegian State?"

Dr Muhammed "Mo" Ali

Debates and political statements indicate that the matter of price confidentiality seems to be ideologically driven. Former Norwegian Competition Authority Chief Economist Kurt R. Brekke has commented that while deciding on net price transparency is a political choice, patients benefit when net prices are kept confidential. He pointed out better prices, faster access, and healthier competition between bidders as factors for why this is the case.

Currently, there is a growing concern that Norway is on its way to becoming a less regulated market. This time it was pharmaceuticals, but this is only one of many industries supplying the State. If this is contrary to what the Government wants to achieve, the business community needs tangible assurances that net prices and other trade secrets will be kept confidential in the future – and that breaches will have legal consequences. At the end of the day, this is about securing suppliers’ ability to provide the State with the best prices possible.

Dr Muhammed “Mo” Ali
Managing Director, MSD Norway AS
Member of the Board, AmCham Norway

A Message from the Managing Director – January 2023

AmCham News

A Message from the Managing Director

Happy New Year!

The promise and hope of a New Year are upon us – with all of the commitments, ambitions and responsibilities that we as business leaders necessarily espouse. AmCham’s professional community is stubbornly optimistic in the face of inflationary pressure, talent shortages, ongoing restructuring, finicky markets, continued rate hikes and taxation innovations.

Most regrettably, we are quickly approaching one year since Russia’s full-scale invasion of Ukraine – and nine years since its illegal annexation of Crimea. Supporting our Ukrainian allies, the transatlantic community has reacted and collaborated admirably over the past year. Let’s do our respective parts to ensure that both collective memories and direct assistance don’t again fade.

Jason Turflinger

During 2023, AmCham Norway will simultaneously celebrate both our 25th and 65th anniversaries – dependent upon how one tallies. We will mark these important milestones together with you over the coming year, proudly and pragmatically (think fewer black ties, more surprises during gatherings).

We will also continue celebrating member favorite undertakings like our Sustainability Forum, Mentorship Program, Healthcare Committee, joint Nordic AmChams programming and Thanksgiving Charity, while acting upon the hard choices to reconfigure and reallocate our finite resources where necessary. We will welcome a new member to Team AmCham in the spring, and I know our extended AmCham member and partner family will welcome them warmly.

The AmCham community, as it turns out, is in a steady and prolonged state of expansion. Never have we had more top-level Patrons amongst our membership ranks, and never have we been more selective as to which new member companies can best contribute to our dynamic business association.

Though it’s sometimes simply assumed that AmCham member representatives are good at their jobs, we do not take the opportunity to connect and work alongside you for granted. We look forward to a year of impact, evolution and excellence together!

GE Healthcare Debuts on Nasdaq and Enters S&P 500

Business News, Health

General Electric’s healthcare unit is ready to begin its solo flight on the bourses.

In November 2021, the industrial giant decided to break up into three parts. Its healthcare unit, comprising medical technology, pharmaceutical diagnostics, and digital solutions, starts trading on the Nasdaq under the ticker GEHC tomorrow (Jan. 4).

The healthcare unit is the first one to spin out. Next, in early 2024, GE plans to create a new entity by combining its renewable energy, power, and digital into one business.

Read full article.

Flyr applies for Operating License in the US

Airline / Travel, Business News

LONDON – The Norwegian carrier Flyr has applied for an Operating License (OL) in the United States. The carrier earlier announced the lease of one Boeing 737 aircraft to an unknown lessee, however it is unknown whether these two matters are related.


In a press release issued on December 19, new Norwegian Low-Cost Carrier Flyr announces their application for an Operating License (OL) in the United States.


According to the press release, the application comes after increasing demand in the North American aviation-market, crew and aircraft-wise. The airline shows intention of operating non-scheduled charter and wet-lease operations in and out of the U.S.


Flyr CEO Brede Huser, stated the following on the application: “The shortage of aircraft and crew in the North American market increases the demand for charter and wet-lease operations.”

Read full article.

Every Fifth Car on the Road in Norway Is Now Electric

Automobile / Transport, Business News

Norway has reached another milestone in electric-vehicle adoption with every fifth car in the country now emission-free.

The Norwegian Electric Vehicle Association estimates that it will take just under two years for EV cars to reach 30% of total, it said in a website statement on Monday. The share rose to 20% from 1/10 in less than 3 years, it said.

Read full article.

Norway’s Hydro plans wind farm to power industrial plants

Business News, Energy, Manufacturing

OSLO, Dec 19 (Reuters) – Norwegian aluminium maker Norsk Hydro (NHY.OL) and two partners said on Monday they plan to build an onshore wind farm costing between 3 and 4 billion Norwegian crowns ($304 million-$405 million) on Norway’s west coast.

The plant, if approved, would have output of 1 terrawatt hour (TWh) of electricity, providing renewable power to existing and future industry in the Hoeyanger and Sunnfjord region from 50 wind turbines.

Read full article here.

Eksfin has provided the seafood industry with NOK 12 billion in financing

Business News, Shipping & Offshore

Since 2015, Eksfin has contributed NOK 12 billion in loans and guarantees to the seafood industry.

In recent years, Eksfin (Export Finance Norway) has experienced strong growth in the demand for loans and guarantees for the seafood industry. Eksfin, which is a government supplement to private funding, is impressed by the growth of the Norwegian aquaculture industry, especially thanks to innovation and technological development.

Norway’s export industries, including fisheries and aquaculture, need major technological and financial boosts. This means that the industry, the banks and the state must work as a team. Going forward, we still expect to see growth in loans and guarantees for this important export industry. Tone Lunde Bakker, managing director of Eksfin.

Read full article here.