Chinese Investor Still Hot on Iceland, Despite Politicians

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Chinese Investor Still Hot on Iceland, Despite Politicians

By Alëx Elliott
Grímsstaðir

Photo: Páll Stefánsson.

The Chinese investor Huang Nubo appears not to have given up his dream of building a tourist resort in remote Northeast Iceland.

A new interview with Huang Nubo on CNBC Asia reveals that he is still hoping to create a resort at Grímsstaðir á Fjöllum. He believes the new Icelandic government is more excited about the project than the old one, but remains wary of Icelandic politicians’ lack of experience.

Huang was interviewed by CNBC on Monday, where one of the things he talked about was his interest in the tourism industry in the Nordic countries.

Huang says that his company, Beijing Zhongkun, will make a niche for itself in the Nordic market in coming years, with Norway, Sweden, Finland and Denmark as the next big destinations for Chinese tourists.

He was then asked about his dealings with Iceland and how he felt about being cast in the light of a villain from a Bond movie.

The Chinese investor said that the reaction of the Icelanders was rare, that they were too aware of their status as an island nation and that they had grave reservations about foreigners taking advantage of them as a result. It is important to sympathize with their concerns, he said.

Despite all this, Huang says he has not given up on Iceland. In his CNBC interview he states that the new Progressive Party and Independence Party government is very excited, has carefully considered the issue, and wants investment in the tourism sector.

Huang added, on the other hand, that he is worried about the Icelandic leaders’ lack of experience, saying they do not have the same leadership experience as some – like Chinese officials for example. “They are like actors who have been elected.”

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