Only China with More Restrictions on Foreign Investment - The Reykjavik Grapevine

Only China with More Restrictions on Foreign Investment

Published August 6, 2010

According to the Organisation for Economic Co-operation and Development (OECD), only China tops Iceland when it comes to the amount of restrictions placed on foreigners who want to invest directly in the country. Saudi Arabia and Russia are more open.
Eyjan reports that according to the OECD findings, the situation has not changed since 2006, when the last figures were put together, during the height of Iceland’s economic heyday. The information has appeared on the webpage of the Iceland Chamber of Commerce, where worries are also expressed with regards to how far behind other nations Iceland is when it comes to attracting foreign investment.
The worries are especially compounded in these troubled economic times, and the Chamber of Commerce criticizes the government for not being more open, and doing more for attracting foreign investment. They contend that foreign investors are skeptical of putting their money in the country since the crash, and that the restrictions against investment – let alone the public reaction to foreign business concerns – has made many shy away from the country.
The Chamber of Commerce recommends that investment restrictions be relaxed, in the interests of stimulating and speeding up the country’s economic recovery.

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