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Rebuffed by Iceland, Chinese billionaire considers land investment in Finland

Rebuffed by Iceland, Chinese billionaire considers land investment in Finland Huang Nubo
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Beijing businessman Huang Nubo complains that anti-Chinese prejudices prevail in Western countries. Iceland recently refused to sell Huang about 300 square kilometres of land.
      Now Huang says that he is looking for investment targets in the United States, or in Nordic countries such as Sweden or Finland.
      “If I decide on investing, I also want to buy land [in Finland]. After the experience in Iceland, an area of just a few hectares would be enough”, Huang said in an interview with the Finnish Broadcasting Company (YLE).
In an interview with Helsingin Sanomat in October, Huang said that he is interested in Korvatunturi in Finnish Lapland. On Sunday Huang told YLE that he is organising a visit to Finland.
      “I plan to send a group of our employees to Finland in February and March to find out about conditions and legislation. After the unpleasant experiences of Iceland, I want to know precise details before making any decisions”, Huang said to YLE.
Huang tried to buy a piece of land in the northeast of Iceland nearly the size of the city of Espoo for about EUR 5.5 million. He would have wanted to use the land as a destination for nature tourism there.
      The Icelandic Ministry of the Interior rejected the deal on Friday, because Iceland has placed restrictions on the rights of foreigners to own land. Iceland’s Ministry of Finance had initially approved the deal.
Huang told the People’s Daily newspaper that the West has a double standard on dealings with China. “Western countries want to open Chinese markets, but they turn down Chinese investments.”
      Huang’s representative in Iceland says that Icelandic law does not specify how much land a foreigner is allowed to buy in Iceland.

Previously in HS International Edition:
  Chinese business tycoon has his eye on Lapland (4.10.2011)

Helsingin Sanomat

  28.11.2011 - TODAY
 Rebuffed by Iceland, Chinese billionaire considers land investment in Finland

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