amid Lama Drama, Svalbard sale, Norway hears Huang Nubo say he plans to invest $110m (over ten years)

Chinese tourism and real estate tycoon Huang Nubo 黄怒波 tells AFP that he’s planning to invest $110m over five to ten years in Norway, and reiterates his interest in developing tourism in Northern Europe. Recently he has been interacting with officials from that region, and from Norway specifically.

It helps that the Norwegian gov’t isn’t receiving the Dalai Lama too officially: if they had, it would be harder for Huang to invest there as the Chinese government wouldn’t approve of it, he adds. Norway is going through a Lama Drama at the moment.

Despite rumours to the contrary, Huang hasn’t yet declared interest in buying the large plot of Svalbard land that has just been put up for sale. Huang doesn’t do coal mining, which is what the seller wants to do on the land regardless of who ends up owning it. That said, just next to Longyearbyen looks like not the worst place to build a tourist resort. Chinese tourists do go to Svalbard already. On the other hand, the level of drama that already surrounds the deal, before anyone had time to talk numbers, suggests a Chinese bid might create just the same brouhaha as Huang’s attempt to buy land in Iceland.

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