Huang Nubo Just Wants It To End

5.12.2012
Words by Paul Fontaine
Chinese entrepreneur Huang Nubo no longer cares about the ultimate outcome of his proposed land deal in Iceland, and believes prejudice has hindered his plans for development.

As reported, the Icelandic government has rejected Huang's application to lease Grímsstaðir á Fjöllum, comprising about 30,639 hectares in northeast Iceland, citing "insufficient information." Huang expressed confusion at the response in a recent interview, saying that he was growing "angry and annoyed" by the situation.

Xinhua now reports that Huang just wants a conclusion to the situation, whichever way it goes.

"The final result is not important anymore," he said in reference to his propsed luxury tourist resort for Iceland, and said that "he hopes to get a clear-cut answer from Icelandic regulators instead of following reports in local media."

Huang also said he believes anti-Chinese prejudice is at play, saying, "I did not get the fair treatment that an invited foreign investor is entitled to there." It should be noted that Icelandic law forbids any foreigner from outside the European Economic Area from owning land in Iceland.

Xinhua also said that, "Although Huang denied being part of any government scheme and insisted that he simply wanted to develop his tourism business, criticisms of the plan have taken on a geo-political flavor, fearing the resort could be used by China to gain a strategic foothold in Iceland. Huang attributed the prejudice to an anti-China ideology and rising trade protectionism."

Huang said in his Bloomberg interview that he does not know what additional information the Icelandic government requires, and is waiting for them to specify.

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