It's The Economy, Stupid

I like Norway.  I don’t know why we don’t spend more time investment prospecting there.  It is a small market and there is limited potential but it could be a niche market.  New Brunswick doesn’t need piles of investment every year.  I would say 8-12 large manufacturing, ICT or value added back office projects would be fine.  A few out of Norway doesn’t seem that crazy.  Everyone is fighting for India, China, US, French, etc. investment (Quebec has 100 people in France I was told).  Not many are fighting for Norwegian investment.

Maybe the Miramichi might get some Norwegian investment but I hope the deal is good and it replaces a big chunk of the 1000 or so high paying jobs lost at the two UPM operations.   While I cautiously applauded the Birla takeover of the mill in Nackawic it was at less jobs and lower pay – a net loss to the province.  And Minister Mesheau called it his greatest achievement as Minister.  At some point, a BNB Minister’s greatest achievement should be something that is a net positive gain for the economy.

Uncategorized Economic development, Norway, upm

Sometimes it is interesting to read foreign media and their coverage of Federal government ‘largesse’.  This is a story in Scandinavian Oil-Gas magazine about the federal and provincial government money being poured into a Norwegian owned company in Quebec.  The incentives include  C$350 million in export guarantees, $10 million from Invest Quebec and this little juicy ditty:

A free-trade agreement signed in 2007 between Canada and Norway included a clause guaranteeing a Canadian government rebate on expenses for ships built in Canadian yards. CECON called the government’s refund on expenses “grant refund guarantees towards all remaining pre-delivery instalments” on the company’s three new-build ships at Davie yard.

So, naturally, we can expect the journalist to talk about the federal largesse.  The article states “Now Canada, too, is helping build Norwegian ships.”

Uncategorized Economic development, Norway, Quebec