Chinaman intends to buy land in Iceland

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Huang Nubo Was Invited To Invest


Words by Paul Fontaine

Chinese businessman Huang Nubo, who is looking to buy a large tract
of land in northeast Iceland, told Danish radio that he was invited to
come to Iceland and invest.

Huang Nubo has long had an interest in Iceland,
having visited the country on several occasions, and set up an
Icelandic-Chinese exchange programme for poets. The inspiration to
invest money in Iceland, however, apparently came from within the

reports that he told Danish he was invited to invest money in Iceland,
due to the lagging state of the economy. Who, specifically, invited him
is not mentioned, but Nubo has connections with the Social Democratic
party, which comprises the larger part of the ruling coalition.

is good friends with Hjörleifur Sveinbjörnsson, the husband of former
Foreign Minister Ingibjörg Sólrún Gísladóttir. Huang Nubo and Hjörleifur
have apparently been friends for a long time, and it has been reported
that during a visit to Iceland last year, Foreign Minister Össur
Skarphéðinsson lent him a ministry car for being shown around the
country. Former member of parliament Lúðvík Bergvinsson has served in an
advisory capacity to Nubo during his negotiations with the government.
All of these politicians hail from the Social Democrats.

Nubo is
still trying to negotiate a purchase of the land which, as a
non-European, he can only be allowed to do with special permission from
the government. While many have raised concerns about the environmental
impact of the project, Nubo has promised to surrender all water rights
in the area, and to fund a full environmental impact assessment.

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