Posted by Max Naylor on Saturday, November 26, 2011
Chinese investor Huang Nubo has abandoned all intentions of investing in Iceland. The news comes in reaction to the Minister of the Interior’s response to a land purchase in Grímsstaðir á Fjöllum in northeast Iceland.
Nubo’s Icelandic spokesman, Halldór Jóhansson said in an interview with RÚV’s newsroom, that he found this to be a great disappointment, and he thought he was in a good partnership with the Icelandic government.
“As I was informed this morning, or last night, he will respect Icelandic law,” Halldór said, even though Nubo is bound in China by observing Icelandic law. “All talk of getting round [the laws] is therefore off the table.” Halldór says that Huang would reflect on the situation, but that his participation in investments in Iceland has now stopped unless offered an incentive from the authorities.
Minister of the Interior Ögmundur Jónasson’s decision and his reactions send the message that his Nubo’s participation in investment in Iceland is not desired. Nubo has never been consulted despite the fact that he has described himself as willing to discuss his investments.
Source: RÚV
Image: mbl.is
Labels: Economy, Foreign affairs