Overview of the market
- Norway leads most of the world’s rankings related to wealth, quality of life, ease of doing business, together with its Nordic neighbors, Finland, Sweden and Denmark.
- Its low-income inequality has been achieved through a mix of policies, allowed by its high taxes. The state redistributes wealth, directly, and also by providing excellent public services, in health and education, whilst it also promotes innovation at all levels.
- Its oil reserves, together with a frugal public administration, have created the wealthiest sovereign wealth fund in the world, the Norway Government Pension Fund Global, above those of China, Abu Dhabi or Kuwait.
- Historically, most of the economy has been based on natural resources exploitation, including fishing, petroleum, and hydroelectric power. In the latter years, the government has focused on promoting innovation and high-technology industry in order to move away from a reliance on non-renewable resources.
Opportunities to explore by GOOSE
to help European SMEs:
- Concerning the sectors, the cancer biotech cluster in Oslo is a good example of the country’s edge in the field; in any case, it might present opportunities for niche smart-health solutions from GOOSE firms.
- An example of the country’s innovative spirit is the public policies supporting electric vehicles; as a result, half of all new cars bought in Norway are electric or hybrid.
- Norway, had 11,323 public tenders totaling more than 2 BEURO in 2019, with the construction and IT sectors leading the way.
- Unsurprisingly, it is worth stressing that the tender process in Norway has a high level of transparency and integrity.
- Although bids in English are just accepted on few occasions, there is an interesting niche of public procurement of innovation, which tend to be prone to be tendered in English.
GOOSE’s FACT SHEET ON NORWAY
Public Procurement factsheet for NORWAY gives you a quick overview of what you need to know when tendering in Norway.