Though most Norwegians have a strong and clear picture of well-known brands and consumer products that originate from the US, most of the companies that play a key role in the Norwegian labor market are not well known. Such companies employ many highly educated workers and often play a pivotal role for local employment in smaller Norwegian cities and rural areas.
AmCham & Menon Economics Company-Specific Knowledge
The production of this report required AmCham’s and Menon Economics’ company-specific knowledge to accurately identify and calculate US company figures. For example, according to official SSB statistics, the US is the eighth largest home country investor in Norway. According to our research, however, the US ranks significantly higher as many US companies in Norway are registered through holding companies in other countries like The Netherlands, Switzerland, Luxemburg and Canada.
US Companies Consider Norway an Attractive Country to Invest
US companies are heavily invested in Norway’s capital-intensive energy, manufacturing and retail & tourism industries. As the report shows, over NOK 8 billion in annual Norwegian taxes are paid by the top ten US contributors alone. Since 1893, US corporate investment and M&A activity have been pivotal success factors within numerous Norwegian industries – both in times of plenty and through cyclical downturns.
To build upon this dynamic history, Norwegian and US companies must be able to go about their work under sound, stable government policies and business frameworks. Norway’s uniquely talented workforce, structured data troves, world-class infrastructure and intrinsic international orientation – combined with advancements in energy, healthcare, and aquaculture technologies – will enable the next chapter of business partnerships to outshine even the last. Global markets await!
The aim of the report is to highlight the main ways in which the industry contributes to the Norwegian economy and society and provide comparisons with other sectors in Norway, and with similar sectors in other countries.
Carried out by Oslo Economics and BI Norwegian Business School on behalf of the American Chamber of Commerce in Norway, the report and its analysis is based on official accounting data, information from in-depth interviews and data from an online questionnaire conducted in 2015
This report presents an analysis of foreign multinationals in Norway. The principal aim is to identify the economic contributions that foreign multinationals make to the Norwegian society.
The project was undertaken by BI Norwegian Business School on behalf of AmCham Norway, with Professor Torger Reve as head of research, Marius Nordkvelde as project leader and Karthik Gowda as field researcher.