In the week of 43, House of Industry on the Faroe Islands opened their doors for a business delegation from Denmark.
Director Marita Vang Rasmussen shared knowledge on the composition of the labour market in terms of competencies in different sectors and industires on the Faroe Islands. Furthermore, Marita shared knowledge on the impact of COVID-19 on the economy in the country. Including that Danish tourists were the main contributors to the revenue of the 2020 tourist season.
The export and import of the Faroe Islands were also shed light upon. Half of the Faroese export is within the EU. Another subject, which was very interesting to the delegation, was to discuss business culture and how to conduct business in the Faroe Islands. Also, how one establishes a department in the Faroe Islands. Formally, it is relatively simple to establish business or a department on the Faroe Islands, however, the largest challenge will be language barriers. Communication in business is mostly conductly in the Faroese language.