Norway Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in norway, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Investment Climate Statement
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The U.S. Department of State’s Investment Climate Statements help U.S. companies make informed business decisions by providing up-to-date information on the investment climates of more than 170 countries and economies. They are prepared by our embassies and consulates around the world and analyze each economy’s openness to foreign investment. Topics include:

•    Openness to, and Restrictions upon, Foreign Investment, 
•    Investment and Taxation Treaties,
•    Legal Regime,
•    Industrial Policies,
•    Protection of Property Rights,
•    Financial Sector,
•    State-owned Enterprises,
•    Corruption,
•    Labor Policies and Practices,
•    Political and Security Environment, and
•    U.S. International Development Finance Corporation (DFC) and Other Investment Insurance or Development Finance Programs

Each statement provides a starting point for U.S. firms and offers a point of contact at the relevant U.S. embassy or consulate abroad.

These reports are also a resource for foreign governments to create business environments that ensure fair treatment for the United States and our companies and investors. 

To access the full Investment Climate Statement, visit the U.S. Department of State Investment Climate Statements website

Executive Summary

Norway is a modern, highly developed country with a robust economy, characterized by one of the highest per capita GDPs in the world. This economic strength is largely due to decades of success in the oil and gas sector, alongside other world-class industries such as shipping, shipbuilding, and aquaculture. The Norwegian government has a welcoming attitude towards foreign direct investment (FDI) and generally grants national treatment to foreign investors.

A positive aspect of Norway’s investment climate is its political stability and strong legal framework. The country is known for its robust property rights protection, safe regulatory enforcement, and an effective legal system. Norway benefits from strong collaboration between industry and research institutions, which attracts international R&D activity and funding. However, there are some challenges that investors need to consider. Following the international trend, 2024 was characterized by continued high inflation and monetary policy tightening. The Norwegian Krone (NOK) depreciated further in 2024, leading to surging prices for both imported and domestically produced goods and services. To combat inflation, the Norwegian Central Bank has maintained the interest policy rate at 4.5 percent since 2023. While this measure aims to stabilize the economy, it has also weighed on domestic consumption, housing, and business investments. Another potential drawback is the existence of certain ownership restrictions on foreign investment. Separately, national security concerns have increased regarding high-risk foreign investments and transactions. Additionally, Norway introduced new taxes and proposals that have created a more unpredictable investment climate for domestic and foreign investors, including resource rent taxes on onshore wind power production and aquaculture, effective January 1, 2024.

Norway, while not a member of the European Union (EU), is part of the European Economic Area (EEA). The EEA agreement extends the “four freedoms” to Norway, ensuring the free flow of capital, personnel, services, and goods between Norway and the rest of the EU. The Norwegian government continues to liberalize its foreign investment legislation to conform more closely to EU standards. Overall, Norway remains a safe and straightforward country in which to do business, with a relatively stable political environment and an ambition to foster innovation and economic growth. Foreign direct investment in Norway stood at NOK 1.87 trillion (approx. $178 billion) at the end of 2023. There are approximately 9,882 foreign-owned companies in Norway, with an estimated 882 registered U.S. companies employing more than 53,000 people. A recent study by Menon Economics indicated that around 400 of these registered companies are considered active in the Norwegian economy.

To access the ICS for Norway, visit the U.S. Department of Department of State’s Investment Climate Statement website. 

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