The Faroe Islands

Business and Industry in the Faroe Islands
As a modern and outward looking nation, an archipelago of 18 islands in the North Atlantic, the Faroe Islands offer numerous possibilities for trade and investment.

Fishery, fish farming and fish processing are the main industry of the Faroe Islands accounting for more than 97% of Faroese exports. As a fishery nation and one of the world´s largest salmon farming countries, our experience and expertise in this trade is longstanding and widely reputed.

Recognising, however, the importance of diversification, we have actively encouraged the development of new industries in the Faroe Islands. The prospects of the presently blooming industries of shipping, high technology, music, design and tourism are most promising. Also the area south of the Faroe Islands at the Atlantic Frontier is expected to provide the basis for a future oil and gas industry.

A highly educated work force, developed infrastructure and positive prospects for economic growth all provide for a healthy business environment in the Faroe Islands.

Surrounded by a productive marine environment and the most spectacular natural landscapes, which in 2007 made the National Geographic Traveller magazine nominate the Faroe Islands as the most appealing island destination in the world, we cannot but say that we welcome the challenges and opportunities of the world of trade and commerce.

Kaj Leo Johannesen
Prime Minister