Norway strengthens its presence in Gothenburg

“Sweden is an attractive market for Norwegian companies – it’s the largest in the Nordic region. It’s also part of the EU and offers a well-developed ecosystem for businesses and opportunities for public funding, research support and innovation grants,” says Helen Bairu.   

Helen Bairu and Jenni Hagman are investment advisors at the regional investment promotion agencies Business Region Göteborg and Business Region Väst. They help international companies to set up and invest in West Sweden. In January, the pair were in Olso. They met with around 20 Norwegian companies who are exploring the Swedish market.  

Norway - the top foreign investor in Gothenburg 

According to Statistics Sweden, there were 429 Norwegian-owned companies in the Gothenburg region in 2024. Norway is the most common foreign investor in the region, well ahead of Germany (258 companies), Denmark (200 companies) and USA (179 companies).  

“Norwegian companies play an important role in our business environment and they create many jobs for residents here. Several large companies like Atea, Norconsult, Asplin Ramm and Veidekke have important operations here,” says Helen Bairu.  

And the Norwegian presence has been growing. The number of Norwegian-owned companies in the Gothenburg region increased by 10% between 2019 and 2024. During the same period, employment in these companies rose 19%, to 10,400 people. Only China, thanks largely to its ownership of Gothenburg’s largest employer, Volvo Cars, employed more people.  

“West Sweden is a high-growth region and a hub for Scandinavian industry and innovation. It offers good opportunities, for example, in tech and mobility, life science, maritime, energy, defence and security,” says Helen Bairu. 

Jenni Hagman adds:  

“For international companies, establishing operations in West Sweden offers not only growth opportunities in the Swedish market, but also a strategic gateway for continued expansion throughout the EU,” she says. 

If you are an international company considering expanding to Sweden, get in touch with us today. Helen Bairu and our team can provide you with insights, advice, practical support, and introductions to key stakeholders - to help you capture investment opportunities. Our investment advisory services are free of charge and tailored to your needs.   

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Some recent examples of Norwegian companies investing in West Sweden: 

• Hydrogen Solutions AS (HYDS) is investing in green hydrogen production at the Port of Gothenburg. The plans were announced at the start of this year, and production is planned to be operational by 2029. The facility is planned with a capacity of five to ten MW, enabling production of up to four tonnes of hydrogen per day.
• In recent years, hotel giant Strawberry has opened three major Clarion hotels in Gothenburg: Hotel Draken, The Pier and Karlatornet. This summer it plans to open another new hotel near the Liseberg amusement park in Gothenburg.
• Logistics company Wallenius Wilhelmsen started operating the Gothenburg International Auto & RoRo Terminal on 2 February 2026. The contract runs for 12 years.
• During 2026, Norwegian Air Shuttle is investing in two new services to and from Göteborg Landvetter Airport in Gothenburg (Tirana and Riga).  
• Asplin Ramm acquired SKF’s former headquarters in Gothenburg and is currently refurbishing and expanding the iconic building, now known as East Square. It is scheduled for completion in 2027.
• Medtech startup ExAC recently established operations in Gothenburg as it looks to scale. It has joined the city’s CO-AX accelerator programme, part of Sahlgrenska Science Park.  

Facts about Gothenburg and Norway

• Norway was the Gothenburg region’s 3rd largest export destination in 2024, with total exports amounting to 36,196 MSEK.
• Norway was the 5th largest origin of imports to the Gothenburg region in 2024, with total imports amounting to 16,303 MSEK.
• In 2023, the business sector in Gothenburg’s county, Västra Götaland, invested SEK 58.6 billion in R&D, which is more than anywhere else in Sweden.  
• Gothenburg’s county has around 100 active testbeds, which is more than any other county in Sweden.