A group of Icelandic businessmen from five companies in Iceland traveled to Belarus to research and learn more about possible investments in the country. The trip was sponsered by the Trade Council of Iceland but also received assistance from the Business Council in Minsk, the capital of Belarus.
The companies that were represented by the businessmen traveling in Belarus were Iceland Seafood, Skinney-Thinganes, Loftleidir (division of Icelandair), MP-Banki, and Kleros which is an investment group in Moscow from Ingolfur Skulason.
Thorleifur Thor Jonsson, manager and curator of the new market at the Trade Council of Iceland, accompanied the group to Belarus. He says that he was very satisfied about this oppurtunity to get to know about the country and to see what Belarus has to offer.
According to the Belarusian Telegraph Agency, Finland and Bosnia and Herzegovina also are showing interest in cooperation with privatization of Belarusian state-owned companies. The Belarusian Sci-Industrial Association is going to sign agreements with the Iceland Trading Council.
“It was not so that trade contracts were signed before or during this trip, however, we sell them fish which they continue selling and distributing throughout the east,” says Thorleifur.
Belarus, just like Iceland, is receiving assistance from the International Monetary Fund, although the country did not suffer as harsh of a crisis as other nations in Europe. Thorleifur Thor says that there is a good outlook for the economy in Belarus and that it is possible to find good investment oppurtunities in the future.
(Photo/Gomel, Belarus taken by Jarrett Iovine)
Fisy,
The biggest attraction park in japan actually has Holland as its theme: Holland park Huis ten Bosch in Nagasaki:
http://gojapan.about.com/gi/dynamic/offsite.htm?zi=1/XJ&sdn=gojapan&cdn=travel&tm=4&gps=22_565_1260_868&f=00&su=p531.50.336.ip_&tt=11&bt=1&bts=1&zu=http%3A//english.huistenbosch.co.jp/index.html
Øystein,
I do not have a problem with trading with Belarus, even though it has a negative moral aspect since it helps the regime to stay in power. The point I was making is that such trade is often used for money laundering and I suspect that icelandic bussinessmen are doing this too.
I was being sarcastic about Norway trying to be friends with Israel and the arab states (and earningmoney from this) while many members of the norwegian government are openly anti semmitic.
Niels. As Norway, UK, NL, Israel and many, many other countries trade with Belarus, I just don´t understand why it then should be a special problem if Iceland should do the same.
“with Israel (a horrible state in norwegian public opinion) and with the arab world (where everything is wonderful and great as we all know)” – I doubt you will find many jews in Norway that agree with you in this.
Niels,
Thank you for that details. Also the pictures to that Netherland them park in China. Very unusual.
>This story exactly shows what doing bussiness with a dictatorship is about:
>you can make huge profits when you are friends with the regime: labour
>costs are low and there are no trade unions forcing you to give decent
>treatment to workers.
>However, if you fall from grace you will be in big trouble.
This used to the case also when under Monarchy before they got the push back from nobles under parliametary democracy. And Icelander saw plenty of this under Danish trade monopoly.
Now when in the EU you are forced to raise common tariffs. There is no free trade outside the EU customs union if you are EU member, only within it ( the EEA ).
This is advantage for EFTA member — like Iceland Norway. They can still make as country free trade deal with who they like. You cant do that as member of EU.
It still amaze me that UK left EFTA at all. It did mean it lost ability for free trade for it commonwealth nations including Canada and Australia.
Øystein;Norway said:
>Well – it seems that there ar more people than icelanders that wants to make
>money in Belarus.
Thanks for bringing you usual balance to conversation.
I think every one with an eye to profit is looking wherever can given poor state of home country economys. Natural resource and agriculture are going to big in coming years.
Brumley you said there:
“Thanks for the laugh Fisy! Transparency International is a joke, but it’s good to see them refusing to change their criteria.”
Obviously I did miss any irony. That is probably because it is well known Icelander have no sense of humor which is why we enjoy My Family on RUV with that Robert Lindsay. Or perhaps it because you were not being ironic.
BTW Øystein do you think you can explain why Norway dropped down so much according to Transaprency International ? Any idea?
https://www.icenews.is/index.php/2009/06/11/iceland-bank-collapse-investigation-family-ties-foreigners-and-funding/#comment-81434
http://www.transparency.org/news_room/in_focus/2008/cpi2008/cpi_2008_table
Øystein
It is the same as Norway trying to have it both ways: with Israel (a horrible state in norwegian public opinion) and with the arab world (where everything is wonderful and great as we all know) .
http://www.regjeringen.no/en/dep/ud/about_mfa/Other-political-staff/former-state-secretaries/State-Secretary-Raymond-Johansen/Speeches-and-articles/2008/israeli_seminar.html?id=534580
http://www.regjeringen.no/en/dep/ud/about_mfa/minister-of-foreign-affairs-jonas-gahr-s/Speeches-and-articles/2009/arab_summit.html?id=551903
Is it possible even to spell this semi-news correctly.
What are “OPPURTUNITIES” ??
Well – it seems that there ar more people than icelanders that wants to make money in Belarus.
UK:
http://www.eventica.co.uk/events/bif/2008/
NL:
http://www.minsk.gov.by/news/26.11.2008/2/12625/eng
For those interested in doing bussiness with North Korea, here is the official website
http://www.korea-dpr.com/business.htm
Quite frankly, Icesave was a better investment :-)
The north korean car does look nice though.
Here is info on bussiness trips
http://www.korea-dpr.com/kfa2009/kfa-delegation-oct-2009.pdf
As for Yang Bin, I heard about him and looked up some information. It is a story that is both impressive and tragic.
Yang Bin came to NL and was naturalized, apparently because he had taken part in anti government demonstration during the tragedy at Tien an Men square.
He built up an enormous bussiness empire and made huge profits in China. He started selling flowers there, built up greenhouses and even built a large attraction park in Shenyang where all kinds of dutch landmarks were recreated.
Here is an article with some pics.
http://www.geledraak.nl/html/showarticle.asp?id=206
His personal fortune was estimated at 1 billion dollar.
But his fortune reversed when he was nominated as governor of this north korean SAR. Apparently China was opposed to this as this would mean competition for the chinese area on the other side of the border.
So Yang Bin was arrested in 2002 and sentenced to 18 years in prison on some unclear charges.
Even though he is a dutch citizen , dutch authorities did nothing to support him, apparently in order not to damage relations with China.
He has been in prison since and his dutch companies have been declared bankrupt.
This story exactly shows what doing bussiness with a dictatorship is about: you can make huge profits when you are friends with the regime: labour costs are low and there are no trade unions forcing you to give decent treatment to workers.
However, if you fall from grace you will be in big trouble.
Perhaps it’s a nuance that you might have missed, but I was being ironic. Still, even though their rating system is obviously flawed (well, obvious to most that is), the little that I know of Belarus would tend to confirm their low placement on any rating scale.
But I see you want to argue with that. Find someone else :) .
BTW Niels, do you know anything about Chinese-Dutch businessman Yang Bin who was to be the governor of North Korea’s Sinuiju SAR in September 2002?
Re: Korean Daedong Credit bank that whole thing is quite fascinating. You can read about it here : http://www.pcvltd.com/ ( see links on left ).
“Daedong Credit Bank is proud to be the first bank operating the DPRK to announce that it has a detailed set of written procedures against money laundering. To learn more, please visit Daedong Anti Money Laundering Policy.”
:)
Article on banking there :
http://www.nytimes.com/2007/03/08/world/asia/08iht-north.4842741.html?_r=1&pagewanted=2
What is for sure is that links between North and South Korea will get more and more as time goes on. This recent provocation by US is not helping.
When they do finally unify it is going to be quite some thing — all that people in North Korea willing to work hard for low wages as they build up they lifes and the expertize and technology of South Koreans.
I think it will be new power house of Asia next to China only.
Brumley:
>Funny you should say that Niels, but Transparency International (who you
>may have heard of :) ) rate Belarus as 151/180. What’s more, their score has
>consisently fallen each year since 2002.
So you think that Transparency International methodology is worth something now ? Perhaps you like it when it suits you ?
https://www.icenews.is/index.php/2009/06/11/iceland-bank-collapse-investigation-family-ties-foreigners-and-funding/#comment-81434
Brumley I think you have some strange ideas here. Niels you less so but still here some things to think on.
Belarus has its odious dictator as does North Korea. But that can be said of many country in the recent past.
What usually makes changes is integration into world economy through trade.
And if the http://belstat.gov.by/homep/en/indicators/labor.php can be believed there are private company there to trade with ( 47 per cent or so ).
You mindset is one that the for of government is everything. Well what matters more is the individual people and they will get better off if they can trade with others outside.
This is big conundrum of 21st century — that democracy on its own first is not always the way to liberty for people.
But economic freedom for the people to trade and keep they money always ends up with more liberty for them even if it take time. And in that meantime the people standard of living rises.
Well Bromley, investing in a country like this may not be as ridiculous as it sounds since such dictatorships have some characteristics:
-they will usually not cooperate with tax authorities/juridical parties from other countries
-the local leadership is always in need of cash in order to finance their luxurious lifestyle.
In fact, I posted a link recently about banking in North Korea. Apart from being a world leader in mass-gymnastics and the construction of huge offices for the governement (they even offer this service!) The north Korean Daedong Credit bank is open to foreign depositors.
Minimal amount of money on your account: 5000 usd or the equivalent in euro’s. The initial deposit must be made IN PERSON in North Korea. Their website even offers helpful advice and the possibility to book such a trip ( I like the section where they describe how you can bring a present to The Beloved Leader Kim Yung Il – he likes expensive whiskey)
They guarantee an interest of 5% per year and no need to fear computer failures: the bank does not have any!
http://www.geenstijl.nl/mt/archieven/2009/02/bankieren_in_noordkorea_het_ka.html
It all depends on the nature of the investments, eg are they to assist distribution and sale of Icelandic fish throughout the east?
A quasi-dictatorship dependant on Russia from its existence. A good match.
Funny you should say that Niels, but Transparency International (who you may have heard of :) ) rate Belarus as 151/180. What’s more, their score has consisently fallen each year since 2002.
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Belarus is probably a great place for money laundering or storing away money that is not save in the Caymans anymore.
Take more of the little money away form the nation?
why not invest in Iceland?
Dont we need it more that Belarus?
This will create jobs over there not here, and the profits will go only to few… Incredible!!