Investment in Nordic Data Centres set to double by 2025


A new report, published by the Nordic Council of Ministers, projects sharp growth for the Nordic data centre market until 2025, based on competitive advantages such as abundant renewable energy, reliable power supply, low energy prices, political stability and faster time-to-market primarily due to ease of doing business.

Coripharma Acquires Actavis Manufacturing Site


This past summer, Coripharma acquired the pharmaceutical manufacturing facilities of Actavis located outside of Reykjavik. Actavis is a global pharmaceutical conglomerate belonging to the Teva group. The newly established company has been under development for the previous two years and will focus on contract manufacturing, specifically producing g...

US company acquires a controlling stake in Kvikna Medical


Alliance Family of Companies has acquired a controlling stake in the Icelandic technology company, Kvikna Medical. Kvikna Medical designs and manufactures software for the uptake and processing of health data. More specifically, Kvikna Medical offers robust patient management systems; a review system for clinical EEG, including automatic artifact r...

Increased support for R&D


The Icelandic government announces increased support for R&D in its first Fiscal Strategy Plan 2019-2023. Tax concessions will be increased already 2019 and the ceiling on them will be removed later in the period.

New Tier III Data Center in Reykjavik


Reykjavik's first large scale, sustainable, free-cooling, Tier III data center will be built as a joint venture by three ICT companies and a real estate developer. The stage is scheduled to be complete early 2019 but the fully developed data center, intended to be one of Iceland's most technologically advanced, will be up to 5,000 square meters.

Norsk Hydro to acquire ISAL aluminium plant


Norsk Hydro ASA has announced a binding offer to acquire Rio Tinto’s Icelandic aluminium plant ISAL. Increasing the share of Norsk Hydro's production, based on renewable energy, to over 70% is one of the reasons for the acquisition.

Viad Corp invests in Flyover Iceland


Viad Corp (NYSE: VVI) has acquired a majority stake in the Icelandic entity Esja Attractions and thus secured an ideal location in Reykjavik to construct FlyOver Iceland, expected to open in 2019. "Reykjavik, Iceland is a perfect location for a FlyOver attraction as the region is enjoying robust tourism growth with visitation expected to reach 2.7 million by 2019,” says Steve Moster, Viad's president and CEO.

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Iceland focuses on a favorable business environment, including low corporate tax, availability of land and green energy at competitive prices and efficiency within European legislative framework. New direct investment projects can apply for an investment agreement, ensuring generous regional incentives, including a corporate tax rate ceiling of only 15%.

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Along with having one of the lowest corporate tax rate in Europe, Iceland has a highly educated workforce which is ranked among the highest in the world, offers competitively priced renewable energy with an advanced infrastructure making Iceland an ideal location for investors