Photo: RNE Singapore.Photo: RNE Singapore

Visit to Singapore by the Norwegian Parliament’s Standing Committee on Finance and Economic Affairs

Last updated: 23.03.2012 // On the 16th of March, the Standing Committee of Finance from The Parliament of Norway embarked upon a six day study trip to Singapore. The purpose of the visit was among other things to learn more about economic development in the region and to exchange views on the global impact of the financial crisis.

RNE SingaporeDuring their stay, the committee met with colleagues from the Singaporean Parliament, as from other government bodies such as the Monetary Authority of Singapore and the Ministry of Finance as well as Singapore’s two wealth funds, GIC and Temasek. Among the themes discussed were Singapore’s financial and monetary policies, the parliamentary system in both countries, differing tax systems, the role of the central bank and the financial crisis and outlook for the future.


The visit also included input from the many Norwegian companies established in Singapore as well as an in-depth presentation by the local office of the Norwegian sovereign wealth fund, NBIM, which was established in Singapore two years ago. On the last day of the visit, the journey went to Keppel Offshore and Marine. Here, the staff gave a presentation of the company’s activities including an overview of their longstanding cooperation with various Norwegian companies.

- The program during our stay was interesting and useful. It gave us lots of inspiration for further political work back home. We had a good impression of the country's authorities who were both forthcoming and professional. We now understand very well how come so many Norwegian businesses find their way to Singapore, says Mr. Ketil Solvik-Olsen, Committee First Vice Chair.

RNE Singapore

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