Singapore – a perfect fit for Norwegian export-reform

Jan Chr Vestre Export Reform

Norwegian Minister of Trade Fishery and Industries, Jan Christian Vestre, pointed out offshore wind and greener maritime industry as key areas when he recently launched Norway’s export reform.

Read and watch:  Presentation of the new export-reform (in Norwegian)

Leaders within the Norwegian business community in Singapore, view the city-state as a perfect fit for the export reform.

An objective for the export reform is to increase exports outside oil and gas with 50 % by 2030. The authorities, its policy instruments and the business community will work closely to achieve this objective.

Save the date: Singapore Norway Innovation Conference 1-2 November 2022

Business-focused reform

One of the measures in the reform is to create a new National Export Council. This is to ensure that the business community’s competence and ambitions contribute to the authority’s decision-making about export initiatives. Minister Vestre also emphasizes that the business community will participate actively in the management of the various initiatives.

The government looks to point out 5-10 export promotion initiatives going forward. Upon input from the industry they have decided to start with investments in offshore wind and a greener maritime industry.

Singapore – a perfect fit

Singapore - a perfect fit for Norwegian export-reform
Paul Kastmann, Director Innovation Norway Singapore

Innovation Norway is the government’s most important instrument to help Norwegian business grow and find new markets abroad. Pål Kastmann, the director of Innovation Norway in Singapore, says that the government’s new strategic initiative for green maritime exports is spot on for Singapore. ‘This is in line with the work that we have already started. As a part of the programme, we are receiving a delegation of Norwegian maritime companies to Singapore in April to explore the business opportunities within the green maritime segment in the South East Asia region. We now hope to strengthen this momentum even further’, tells Kastmann.

Also NBAS’ president Leonard Opitz Stornes praises the new business-driven export reform.’ Singapore is a perfect fit for this reform. A large part of NBAS membership companies is within the maritime sector. Consequently, we provide a forum for knowledge-building and exchange of experience. We are also promoting Norwegian competence in the the region. The Norwegian business community is ready to facilitate and support the business-focused promotion of a greener maritime industry, says Stornes.

Watch: Special Insights Panel #1 – 2022: Singapore/Norway: Business Potential in Maritime Cooperation