Strategic plan KPN

-1-

KPN International Strategic Advice

Assigned by

KPN

Hogeschool van Amsterdam

Assesor

EHalmans

Team 3

Jean Paul Vonk 227680

Tami Aboulghazi 513433

Michiel Stock 509863

Saskia Tollenaar 237005

Joost van der Lee 501622

Contactpersoon Tami Aboulghazi

-2-

Table of Contents

1 Executive summary 4

Romania

2 Country facts 6 21 Bureaucracy amp Corruption 6

3 Sectors 7

31 Industryhelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip7 32 Transport 9 33 Finance 9 34 Watermanagement and water purification 10

4 Business Regions 12 41 West-Romania 12 42 Northwest Romania 12 43 Bucharest 12 44 Constanta 13

5 Recommendation 13

Hungary

6 Country Facts 15 7 Sectors 16

71 Transport 16 72 Finance 18 73 Industry 19 74 Getronics 19

8 Recommendations 20

Norway

9 Country facts 21 10 Sectors 22

101 The Telecom Sector - Mobile 22 102 Transport 24 103 Industry 25 104 Finance 27 105 Geografic 27


British Islands Guernsey


131 Transport sector 29 132 Finance 30 133 Industry 32

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Isle of Man

14 Country facts 33 141 Transport 33 142 Finance 34 143 Industry 35

Jersey


161 Finance 36 162 Transport 37 163 Industry 38

17 Recommendation 39 171 Conclusion recommendation 39

18 Sources 40 19 Annex 41

Annex 1 42 Annex 2 43 Annex 3 44 Annex 4 44 Annex 5 45 Annex 6 47 Annex 7 47 Annex 8 48 Annex 9 48 Annex 10 49 Annex 11 50

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1 Executive summary

The assignment was to identify which part of the given countries were relevant for investment and if so where should KPN invest within that country In this paper we have analysed four countries

namely Romania Hungary Norway and the British Islands We have analysed each country according to three sectors which are the most important ones according to KPN International The three sectors are transport finance and industry Finally we came to the following recommendations Romania - We advice KPN International to invest and cooperate with local construction companies because this sector will grow enormously in the following decade Billions of euro‟s are invested by the European Union and the Romanian government in the expanding of the infrastructure KPN can be of great value in this sector by assisting in communication between the companies involved in the large infrastructural projects - The next important sector we advice KPN to invest in is the water management amp purification sector of Romania Romania is investing and upgrading its drinking and waste water infrastructure because of the poor quality of these facilities Because of the high knowlegde Dutch companies have in this area of expertise this development can be an opportunity for KPN International For constructing these facilities a well developed data network and communication technology is required therefore KPN can be of great value

- In the finance sector the main interest for KPN should be in the growth of the internet services such as

internet banking KPN could be of assistance in the development of internet banking and additional services Therefore KPN should look for ways to help evolve these products by assisting the banking sector with communicational devices technology and data-systems Hungary - The most importance sector we advice KPN to invest in is the infrastructure Just like in Romania the government and the EU are investing billions of euro‟s in the infrastructure The Hungarian government wants to double up the amount of roads - The development of the railroad network was slowing down for a long time On this moment MAacuteV (Hungarian Railroad Company) is investing in the development of the network and communication systems We advice KPN International to investigate the possibillity to cooperate with MAacuteV - Another opportunity for KPN is the e-banking market In Hungaria there is one bank with the knowledge and capacity to serve 85 of the e-banking market KPN should invest in smaller banks to make them more competitive in the financial sector Norway - In 2007 Norway was worlds third oil-exporter The biggest and most interesting company for KPN in the oil industry is STATOIL Mainly STATOIL exports to the UK the Benelux Germany French en the US The export to these countries is interesting for KPN because of their data-network in Europe - Mobile broadband is now a key market growth driver as smartphones become more affordable service costs fall and the fact that the range of mobile data applications grow is a positive trend KPN should entrance the market like what they did in Germany and Belgium - For KPN the increasing demand for corporate communications services from independent operators and service providers is very interesting The major sectors are transport industry and finance

-5-

British Islands On the three British Islands the most important sector is the financial sector On Guernsey almost all all financial companies are located in the capital so all the companies are close to each other So for KPN it is easy to reach more companies at once Next to the financial sector on the Isle of Man there is also the low-carbon and clean-technology industry This is Just like on the other islands the financial sector is also the most important one on Jersey On Jersey there are two Dutch banks active These banks are interesting for KPN International because they probably are already familiair with the services of KPN

-6-

Romania 2 Country facts1 Economy

Export partners Germany 163 Italy 154 France 73 Turkey 65 Hungary 5 Bulgaria 41 (2008)

Exports $381 billion (2009 est)

Import partners Germany 161 Italy 112 Hungary 73 Russia 59 France 56 Turkey 49 Austria 48 Kazakhstan 45 China 42 (2008)

Imports $492 billion (2009 est)

Climate temperate cold cloudy winters with frequent snow and fog sunny summers with frequent showers and thunderstorms

GDP $2563 billion (2009 est)

GDP composition by sector Agriculture 124 Industry 35 Services 526 (2009 est)

Labor force ndash by occupation Agriculture 297 Industry 232 Services 471 (2006) Businesscentres

Citizens

Population 22215421 (July 2009 est)

Age structure 0-14 years 155 (male 1772583female 1681539) 15-64 years 697 (male 7711062female 7784041) 65 years and over 147 (male 1332120female 1934076) (2009 est)

Communications

Telephones ndash main lines in use 5036 million (2007)

Telephones ndash mobile telephone subscribers 24467 million (2008)

Telephone system General assessment the telecommunications sector is being expanded and modernized domestic and international service improving rapidly especially mobile-cellular services Domestic more than 90 percent of telephone network is automatic fixed-line teledensity exceeds 20 telephones per 100 persons mobile-cellular teledensity expanding rapidly roughly 110 telephones per 100 persons International country code - 40 the Black Sea Fiber Optic System provides connectivity to Bulgaria and Turkey satellite earth stations - 10 digital international direct-dial exchanges operate in Bucharest (2008)

Internet hosts 2188 million (2009)

Internet users 6132 million (2008) country comparison to the world 37

Most problematic factors for doing business in Romania (according to the World Economic Form)

2 see annex 3

Stage of development see annex 4

21 Bureaucracy amp Corruption3

Romanias huge bureaucracy means EU funds allocated to Romania are not being used the countrys President Traian Basescu told parliament in Bucharest on Monday (9 March)

1 wwwciagov

2 Global Report ndash httpwwwworldeconomicformcom

3 httpwwweuractivcomeneurohuge-bureaucracy-prevents-romania-eu-fundsarticle-180154

-7-

After the collapse of communism bureaucracy and corruption have dramatically increased in Eastern Europe and the former Soviet Union Since both of them are symptoms of fundamental institutional weakness (Hellman et al 2000b) their extent may be attributed to the specificity of the process of institutional change in a transition economy

3 Sectors

31 Industry The industrial market in Romania is characterized by high demand especially from Western European companies that consider Romania to be one of the best locations for placing their investment due to factors like low rent costs cheap labor force strategic location and also a great number of incentives for investors Still Romania is one of the least developed industrial amp logistics market in the region with only 1600 hectares of land dedicated to industrial parks while there is strong demand from foreign investors Seizing the great potential Romania offers on the industrial real estate market a great number of investments are in the pipeline in the next 3 years Within the industry the construction industry is one of the most interesting sectors Romania has at this moment The infrastructure in Romania is poor compared to the rest of Europe This could be an opportunity for KPN Infrastructure amp Construction Market

4

Following its accession to the European UnionRomania is attracting increasing attention from companies in the construction sector In the next few years Romania will receive EU funds totalling nearly euro20bn which will very positively affect the future growth of the construction market in this country However local firms will not be able to handle the completion of large infrastructure projects hence the expected expansion of international construction enterprises in that market 5In 2006 the value of the Romanian construction market stood at almost euro12bn ie 18 up on the 2005

rating It was the highest result ever since Romania embarked on the path of transformation ndash as described in detail in the report ldquoConstruction Sector in Romania 2007 with forecasts for 2007-2009rdquo published in March 2007 by PMR a market research company The Romanian economy is growing at a high rate and construction is one of the most rapidly expanding sectors Development prospects are similarly optimistic for the upcoming years ndash in 2007 construction and assembly output will climb by about 15 while in 2008-2009 the growth rate will further go up but to a lesser extent The key-factors of the future of the Romanian construction market - Projected sustained growth in the GDP and capital expenditure - Financial resources provided by EU funds and increasing Foreign Direct Investments - The availability of building materials and other inputs for the construction industry resulting from the presence of international manufacturers of construction materials on the Romanian market - Opening of the construction market and accession to the EU attracting foreign enterprises to the Romanian construction market ndash large scale investments and acquisitions are expected which will improve the quality of offered services and boost production capacities

4 httpwwwevdnlzoekenshowbouwsteenaspbstnum=216432

5 httpwwwpmrpublicationscompress_roomen_Romanian-construction-market-_-dynamic-

growth-and-outstanding-prospectsshtml

-8-

Civil engineering construction ndash large infrastructure projects

As in other Central and Eastern European countries roadwork construction represents the largest part of that segment of the construction market in Romania The main problems concerning Romanian road infrastructure include an underdeveloped road network and the very bad state of the existing roads It is estimated that over two-thirds of the total length of the roads are in need of renovation Romania‟s road network comprises roads with a total length of about 78500 km This represents 330 km per 1000 km2 of the country‟s area Strategic roads (national roads) total about 14800 km while the network of regional roads is about 35900 km Other roads totalling 27800 km are communal roads The network of motorways is undersized with the length of only 230 km (1 km of motorways per 1000 km2)

Under the current EU budget an amount of over euro4bn in financing has been allocated to the implementation of transport infrastructure projects in Romania The Romanian government has drawn up very ambitious plans under which close to 1300 km of new motorways will be built by 2013 and nearly 2000 km of national roads will be modernized and constructed within the coming two years ldquoThe majority of large infrastructure projects will be implemented by large international consortia or construction enterprises which will engage Romanian firms as local contractorsrdquo adds Szymon Jungiewicz Opportunity for KPN Concerning the high investments the EU is realising in the Romanian infrastructure this can be of great importance for KPN KPN can offer great WAN mobile services and data networks for the Romanian firms and local contractors The construction companies will have to cooperate a lot in the coming years to finish the ambitious plans of the Romanian Government These infrastructural projects will need a good communication network and a Wide Area Reach For example it should be possible to connect the local building manager at the construction site Infrastructural plans

-9-

32 Transport

In 2008 over 50 billion tonnes of cargo was transported by road This is approximately 66

percent of the total freight In 2013 this is expected to be 70 Romanian transporters are

increasingly driving with modern trucks The private companies have already gained a dominant

share in the road 90 percent of the transported tonnes-kilometers are accounted for private

companies A considerable number of foreign hauliers are operating in Romania including the

Dutch Wim Bosman KLG Europe Verduyn Logistics and Logistics Center

WaterwaysShipping and Marine transport As of 2006 there are 1731 km of navigable waterways of which

- 1075 km on Danube River - 524 km on secondary branches - 132 km on canals

In 2004 according to europaworldcom 19 million passenger-km and 4 billion tonnes-km were carried through these waterways Constanta is the main harbour and portway to Asia In the coming years the government is going to invest a lot in Constanta to make it the main harbour in this area with a good distribution network to the hinterland (read European Union)

International sea-borne freight traffic - Goods loaded 182 million tonness - Goods unloaded 223 million tonness (2004) Traveling by train The national Romanian Railway Company is CFR and the services improve year by year The national railway network is large about 11000 km long and it spans the entire surface of Romania

Logistics Services The logistics industry is developing rapidly and the demand for logistics services is growing Unfortunately the number of logistical areas doesn‟t meet the requirements The most cities are facing a shortage of suitable sites The bulk of the logistics business focuses around Bucharest Overall Romania has about 1 million acres of storage Popular locations are primarily west of Bucharest on the Bucharest-Pitesti highway and north of the city near the airport With the future highway (Bucharest-Constanta) on the horizon east of Bucharest will also become more popular

Romania has about 26000 companies in the transport and logistics sector Approximately 3000

companies also offer logistics services but only 150 of these can meet the quality requirements

of international customers

Top 5 transport companies Romania6

In annex

33 Finance7

Total assets 43 billion (about 54 of GDP) bull 61 of bank assets are held by the top-five banks

6 httpmcirdoingbusinessroentransport-cargo

7 httpwwwefmacomindexphpefma_observatorydefautindexEN3246

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bull Solvency ratio 179 bull Shareholding comprising mostly foreign entities

- Financial services ING and Fortis are in Romania - Especially Internet banking will evolve

In December 2008 the industry comprised a total assets of 84 billion euros This is an increase of 138 percent compared to the same period one year earlier The growth rate in 2007 was still significantly higher perhaps around 50 percent The sector is expected to shrink slightly in 2011 and increase again in 2012 In 2013 the sector is predicted to have a size of 132 billion euros Many foreign banks have been established in the country including the Dutch banks ING and Fortis The five largest banks have approximately 55 percent of the market In the medium term the smaller banks are expected to close or merge with larger banks so the market will consolidate The market for commodities such as credit cards is almost saturated It is expected that especially the market for Internet services including Internet banking will increase in importance Also other financial products such as pensions insurance and investments will increase importantly The demand for consumer loans will increase significantly the medium term with an average growth rate for 2013 of 11 percent per year

Top 5 banks in Romania (all centred in Bucharest)

- Banca Commerciala Romana - Banca BRD - Raiffaisen Bank Romania - HVB-Tiriac - Banca Transilvania

With a market share of 45 Banca Transilvania is the fifth largest bank in Romania

34 Watermanagement and water purification Romania is undergoing remarkable progress with regard to the upgrading of its drinking and waste water infrastructure The focus is however on urban areas which means that many remote rural areas will possibly miss out on the large scale water infrastructure upgrading effort To fill this gap Dutch experts use a four day road show to present innovative decentralized water technology solutions for rural and residential areas Market size Romania is a member of the European Union since 2007 To meet the European directives the country is investing heavily in the water infrastructure the coming years The total water network is 47778 kilometers long Only 65 percent of Romanias population has access to the drinking-water network In rural areas this number is even lower only 33 percent of the rural population has available water and only 21 percent of the available water is purified Of the Romanian population 32 percent has no access to purified water and is not connected to a wastewater treatment plant And slightly more than half of the population 53 percent has access to the sewerage network The current capacity is too small and the system and the technology of wastewater treatment are outdated The Dutch water sector has many engineering and management knowledge in the field of sanitation Romania is therefore a promising growth market Given the fact that Dutch companies have much knowledge of sanitation and water management this offers opportunities for the Dutch building and sanitation expertise Dutch companies like Ballast Nedam 8(Construction Company) are experienced in building water supplies port facilities and are working with integrated communications of KPN

8 httpwwwballast-nedamnlcontentfilesSITE1jaarverslagenjaarverslag2006_verslagraadvanbestuurpdf

-11-

International In 2006 they signed a contract with KPN to the Wide Area Network (WAN) and mobile telephony and data This is an example of the importance that KPN could have within this industry Within the water sector in Romania there are many companies that will anticipate on the need of these projects Therefore opportunities for KPN to respond to the need for WAN mobile telephony and data (eg construction site) will occur

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4 Business Regions

41 West-Romania

This is an attractive region including the cities Timisoara Arad and Resita with respectively 325997 191473 and 83985 inhabitants Number of companies (Timisoara) 50669

This area has seen a highly concentration of IT companies in the last decade - High degree of urbanization - High level of education - Good infrastructure - Hungarian and Slovak borders are close - Silicon Valley of Romania because of a highly concentration of IT companies

42 Northwest Romania

This region includes cities as Satu Mare Oradea Cluj-Napoca with 115142 206614 342112 inhabitants respectively Cluj-Napoca is an important economic centre in Romania Famous local brands that have become well-known at a national and to some extent even international level include Banca Transilvania Farmec Jolidon and Ursus breweries The American online magazine InformationWeek reports that much of the softwareIT activity in Romania is taking place in Cluj-Napoca which is quickly becoming Romanias technopolis and thus overtaking that position of Timisoara‟s region

- Major University city Cluj-Napoca - Many German and Hungarian investors - Number of companies (Cluj) 60906

43 Bucharest

This is the most populated area with about 2082000 inhabitants and is the most economically-developed and industrialised city in Romania producing around 21 of the countrys GDP and about one-quarter of its industrial production while only accounting for 9 of the countrys population9 Almost one third of national taxes is paid by Bucharests citizens and companies Based on local purchasing power Bucharest has a per-capita GDP of 838 that of the European Union average10 (2006) and more than twice the Romanian average Based on the fact that Bucharest produces around 21 of Romanian GDP for a population of around 2 million the GDP (PPP) per capita of the city would be US$30057 The citys strong economic growth has revitalised infrastructure and led to the development of many shopping malls and modern residential towers and high-rise office buildings In September 2005 Bucharest had an unemployment rate of 26 significantly lower than the national unemployment rate of 5711 Bucharests economy is mainly centred on industry and services with services particularly growing in importance in the last ten years The city serves as the headquarters of 186000 firms including nearly all large Romanian companies An important source for growth since 2000 has been the citys property and construction boom which has resulted in a significant growth in the construction sector Bucharest is also Romanias largest centre for information technology and communications and is home to several software companies operating offshore delivery centers

9 Joint Inclusion Memorandum of Romania

10 Danuta Huumlbner pays a visit to Romania (European Commission Press Release 14 July 2005)

11 Major economic indicators of Romania in the period 1 January 2005-30 October 2005 National Institute of Statistics of

Romania 9 December 2005 (Romanian)

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- Good infrastructure - Major business concentration - Highest FDI (foreign direct investment) - Bucharest-most attractive East European city - Number of companies 304143

44 Constanta

- Much business activity - Transit port to and from Asia - Number of companies 55066

5 Recommendation The growing economy the high foreign direct invesments (the Netherlands is the top investor in Romania) the good relationship with the hinterland (70 of the export goes to EU-countries) and the geographic position of Romania make it an interesting opportunity for KPN The sectors that will benefit the most from economic growth or major investments are the most interesting for KPN International to cooperate with These opportunities are within the water management sector the construction market (infrastructure and industrial parks) and the finance market KPN should also keep in mind the interesting economic regions such as the harbour area of Constanta Bucharest the area of Cluj and the area of Timisoara More information about these area‟s can be found above Recommendation 1 Concerning the major investments the EU and the Romanian government are planning for an expanding network of infrastructure many local construction companies (see annex for examples) will work together with large international construcution enterprises KPN can be of value for these companies when looking at communication data networks and Wide Area Network Recommendation 2 The drinking water facilities in Romania don‟t meet the European directives and therefore Romania is

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investing and upgrading its drinking and waste water infrastructure in the coming years Because of the high knowlegde Dutch companies have in this area of expertise this development can be an opportunity for KPN International The connection of Dutch companies that work together with local contractors in Romania can be an advantage for KPN International For constructing these facilities a well developed data network and communication technology is required therefore KPN can be of great value Recommendation 3 In the finance sector there is one aspect that can be of great interest for KPN International The internet services of the banking industry will evolve greatly in the coming years KPN could be of assistance in the development of internet banking and additional services Other financial products such as pensions insurance and investments will increase importantly Therefore KPN should look for ways to help evolve these products by assisting the banking sector with communicational devices technology and data-systems

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Hungary

6 Country Facts

Export partners Germany 254 Italy 52 Romania 51 Austria 47 Tawian 45 Slovakia 45 France 45 UK 44

Import partners Germany 246 Russia 87 China 72 Austria 6 Tawian 49 Netherlands 44 France 42 Italy 41

Exports $7861 billion

Imports $7456 billion

GDP $1863 billion

GDP composition by sector agriculture 34

industry 343

services 624

Labor force 42 million Labor force ndash by occupation

agriculture 5

industry 324

services 626

Import from the Netherlands 21 billion12

Export to the Netherlands 18 billion13

Businesscentre Central-Hungary (Budapest)

Citizens

Population 9905596

Age structure 0-14 years 15 15-64 years 693 65 years and over 158

Communications

Telephones ndash main lines in use 3094 million

Telephones ndash mobile cellular 12224 million Telephone system ldquoGeneral assessment the telephone system has been modernized and is capable of satisfying all requests for telecommunication service domestic the system is digitalized and highly automated trunk services are carried by fiber-optic cable and digital microwave radio relay a program for fiber-optic subscriber connections was initiated in 1996 competition among mobile-cellular service providers has led to a sharp increase in the use of mobile cellular phones since 2000 and a decrease in the number of fixed-line connections international country code - 36 Hungary has fiber-optic cable connections with all neighboring countries the international switch is in Budapest satellite earth stations - 2 Intelsat (Atlantic Ocean and Indian Ocean regions) 1 Inmarsat 1 very small aperture terminal (VSAT) system of ground terminalsrdquo

14

12

CBS Internationale handel in- en uitvoer naar goederengroepen 13


httpswwwciagovlibrarypublicationsthe-world-factbookgeoshuhtml

-16-

Internet hosts 2261 million

Internet users 5873 million Bureaucracy The bureacracy in Hungaria is one of the most problematic factor for doing business(annex 6) The taxes in Hungary get more and more complex Corruption Hungary has a huge problem with corruption In novembre 2009 nine ambassades in Budapest wrote a letter to the Hungarian government about the corruption Large investors will pull back from Hungaria when they don‟t get a transparant investment policy Language The language in Hungaria is another problem Most Hungarian people don‟t speak English very well 58 of the citizen of Hungaria don‟t speak a second language But in the future it will and has to improve already 34 of the Hungarian people get English on their first school Compared to the European standard of 24 it‟s quite high

15

European funds Between 2007-2013 Hungaria will receive European funds with a total amount of euro224 billion

16

Infrastructure The development of the infrastructure and roadconstruction as most important has priority in government programmes Before 2015 the road network has to grow with at least 2500 km

7 Sectors

71 Transport

Hungary is located in Central Europe between seven other countries Croatia Austria Ukraine Romania Serbia Slovenia and Slovakia (Annex 8) Hungary is a country that has the opportunity to be one of the most important distributors between al other parts of Europe The Hungarian government wants to develop this opportunity so they can have a leading position in the distrubution and trading between other countries This prioirity of th Hungarian government brings also some opportunities for companies Especially companies that are specialized in huge infrastructure projects but it also brings opportunities for the financial sector For this development the Hungarian government reserved a huge part of European funds (2007-2013) for the infrastructure The total amount of these funds is euro224 billion To be an important distrubute country they invest approximately euro732 billion

17 in transport(annex 7)

15

httpwwwculturescopenlcontentview36647langnl 16

httpwwwevdnlzoekenshowbouwsteenaspbstnum=212384 17

httpwwwevdnlzoekenshowbouwsteenaspbstnum=212389

-17-

Transport of goods (x1000 kiloton)18

Road Road transport is the most important way of transport At least 60 of the total transport is road transport In the coming years road transport will only grow with the investments Hungary makes The Hungarian road network has a length of 170000 km In the coming years there is a priority to develop the roads that connect the European roadnetwork In 2015 the Hungarian government wants their road network doubled up In the future the rail roadnetwork will take over a part of the transport Railroad The Hungarian railway network is executed by MAacuteV They sold their cargo department to an Austrian company RCA The development of the rail roads in Hungary slowed down because there was no money to invest In the coming years they want to invest and develop the Hungarian rail roads Before the end of 2013 they want to complete a few projects The most important project is the railroad between Budapest and the border with Austria Air traffic Just like the railway network the airport at Budapest- Ferihegy is privatized It is the only one airport that is available for cargo Air transport is not the most important part of transport of Hungary It‟s only 002 of the total transport of cargo The Hungarian government is investing in small existing civilian and military airports Because the airport Ferihegy is privatized the government will not invest in it before the end of 2011 the organization of the airport wants to expand and invest euro260 million for a new terminal Water The only way of transport cargo over water is the river Donau The second important Hungarian river the Tisza is not yet available for cargo transport In 2007 the government began with construction near both riversThey also connect the Donauharbors with the road network with this comination Hungaria can increase their transport

19

Opportunity KPN To develop and construct these roads within 5 years companies have to work together to reach these goals KPN can have a great influence on the communications between these companies KPN can offer great WAN mobile services and data networks for the Hungarian companies KPN can also offer a traffic centre for the whole road network in Hungary To develop the Hungarian railway KPN can offer several data-systems and a communication centre In Western-Europe there are still problems with the railroad network An example was the collision of two trains in Belgium So the data systems are very important for the safety of the travelers To get contracts to deliver data systems for the railroads KPN has to make sure that they can deliver high-developed and safe systems

18

httpwwwevdnlhomelandenlandenpaginalandaspbstnum=2397ampland=hogamplocation=hom

elandenlandenpaginalandaspland=hogamphighlight= 19

httpwwwdiplomatiebenlpressexpresstelexdetailsaspTEXTID=94426

2007 2008

Road transport 243299 258380

Rail transport 53983 51542

Water transport 8410 8829

Total transport 331518 343954

-18-

72 Finance

Hungary was the first country in Central- and Eastern Europe that was in recession The GDP in Hungary decreased with 15 last year The most important reason of the recession was the crisis which involved the whole world but another reason was the decrease of the domestic demand due to the austerity policy In Octobre 2008 the Hungarian government asked for help of the IMF They received an amount of euro20 billion With a few adjustments the wages of officials etc Hungary wants their federal budget deficit below 3 The total amount of foreign investments was euro25 billion in 2007 Before these years the investments in Hungary were at least euro5 billion Banking Since the worldwide financial crisis the banking in Hungary has huge liquidity problems Due to the privatization (1995-1996) of the financial sector it was known as the most advanced in Central-Europe Foreign banks own at least 90 of the 37 existing banks Only two banks are state banks Hungarian Development Bank and the Eximbank The Hungarian state has also a share of 03 in the OTP Bank Almost every bank offers the possiblity to use e-banking The OTP bank is the largest with a market share in e-banking of 85

20

Almost every bank wants to expand their traditional banking activities with other services like leasing and factoring Just like in other countries there will be changes due to e-banking Insurance Hungary has a high competitive market in the insurance market in 2007 there were 31 insurance companies Most of these companies are foreign companies In 2006 the total insurance marktet increased with 209 with a total amount of euro33 billion Companies registred at Hungary have access to creditinsurance of Mehib a state insurance company Another state company is the Eximbank Besides credits they also provide exportrelated guarantees for lower interest rates then the marketlevel The market leader is Allianz Hungaria Insurance Rt and has a share of 20 The second largest insurance company is Generali Providencia Rt with a share of 15 Due to the strong position in life insurances ING Insurance Private Co is the third largest insurance company

21

Opportunity KPN The OTP Bank is the bank with the highest market share in e-banking KPN has the opportunity that they can offer smaller banks the possiblity of e-banking On this way the smaller banks in Hungary can compete better with the OTP Bank

20

httpwwwhongarije-vastgoednlMarktorientatiehtml 21

httpwwwevdnlzoekenshowbouwsteenaspbstnum=79835amplocation=amphighlight=Dienstense

ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry

The Hungarian industry has declined since the last two years Another indicator of the worse economic circumstances is the decrease of the domestic sales In 2009 the industry decreased 177 compared to 2008 In the past the Hungarian mining industry was very important But since the collapse of the communism the mining industry declined For heavy industry you need commodities Hungary has a shortage of these commodities That‟s why Hungary is concentrated on the development and producing of electrical equipment The industry is highly concentrated around Budapest (Annex 9) Manufacturing is the most important component of the Hugarian industry A few years ago at least 70 of the Hungarian industry was from manufacturing and this will still be the same The most important companies are in the automotive (AudiVW Suzuki) They are responible for about 13 of the industrial output Active companies in manufacturing are especially worldwide players They already have good data-systems where KPN cannot play a leading role anymore

74 Getronics22

KPN is already active with Getronics in HungaryGetronics established their Global Serivce Center (GSC) in Budapest (2004) In 2006 Getronics moved their Network and Security Opereation Center from Brussel to Budapest and is now part of GSC) Thanks to their experience already in Hungary it won‟t be hard for KPN to becomem more active in this market

22

httpwwwnetherlandschamberhuindexphpoption=com_contentamptask=viewampid=26ampItemid=

43

-20-

8 Recommendations

Recommendation 1 The OTP Bank is the bank with the highest market share in e-banking KPN has the opportunity that they can offer smaller banks the possiblity of e-banking On this way the smaller banks in Hungary can give the same service as the OTP Bank Recommendation 2 Hungary has a special fund of euro2 billion to develop the railroad network and almost euro15 billion to develop the roadnetwork To develop and construct the new roads within 5 years companies have to work together to reach these goals KPN can have a great influence on the communications between these companies KPN can offer great WAN mobile services and data networks for the Hungarian companies KPN can also offer a traffic centre for the whole road network in Hungary To develop the Hungarian railway KPN can offer several data-systems and a communication centre In Western-Europe there are still problems with the railroad network An example was the collision of two trains in Belgium So the data systems are very important for the safety of the travelers To get contracts to deliver data systems for the railroads KPN has to make sure that they can deliver high-developed and safe systems

-21-

Norway

9 Country facts

Facts about the economy the citizens and the communications in Norway Economy

Export partners UK 27 Germany 128 104 France 94 Sweden 65 US 45 Netherlands 23


Import partners Sweden 143 Germany 134 Denmark 68 China 64 UK 59 Netherlands 41


Climate temperate along coast modified by North Atlantic Current colder interior with increased precipitation and colder summers rainy year-round on west coast

GDP $2765 billion

GDP composition by sector Agriculture 22 Industry 451 Services 527

Labor force ndash by occupation Agriculture 29 Industry 211 Services 76

Businesscentres In Oslo and Trondheim Citizens

Population 4660539


Communications


Telephones ndash mobile telephone subscribers 5287 million

Telephone system General assessment modern in all respects one of the most advanced telecommunications networks in Europe Domestic Norway has a domestic satellite system moreover the prevalence of rural araeas encourages the wide use of cellular-mobile systems instead of fixed-wire systems International country code ndash 47 2 buried coaxial cable systems submarine cables provide links to other Nordic countries and Europe satellite earthe stations ndash NA Eutelsat NA Intelsat (atlantic Ocean) and 1 Inmarsat (Atlantic and Indian Ocean regions) note ndash Norway shares the Inmarsat earth station with the other Nordic countries (Denmark Finland Iceland and Sweden) (1999)


Internet users 3935 million Norway has relatively the third most internet users in the world

-22-

Ranks out of the Global Competitiveness Report 2009 - Availibility of latest technologies widely available ranked fourth of the whole world - Firm-level technology absorption aggressively absorb ranked eighth - Laws relating to ICT well developed ranked sixth

10 Sectors

Is the telecom sector interesting for KPN

101 The Telecom Sector - Mobile

Opportunities for KPN - TeliaSonera and Tele2 are the key foreign

investors in this sector - There are only two mobile network operators

active in Norway - Mobile broadband is now a key market growth

driver as smartphones become more affordable service costs fall and the range of mobile data applications grows

-23-

Threats for KPN - Mobile average revenue per user rates appear to either be flat or falling could be related to

the reduction of termination fees - Telenor Mobil has a market share of 55 and NetCom has a market share of 31 the other

(MVNO) has a market share of 13 - Mobile Norway entrance the market in 2010 with a combined 2G3G offering

The telecom sector ndash Wireline Industry

Opportunities for KPN - Fixed-wireless broadband services are likely to

increase in popularity following the recent auctions of spectrum to facilitate such offerings

- There is an increasing demand for corporate communications services from independent operators and service providers though much of this comes from Swedish multinationals doing business in Norway

Threats for KPN - Incumbent Telenor retains a dominant presence

in all markets as alternative operators prefer to resell capacity on its networks and facilities thus boosting Telenor‟s indirect shares of interconnection traffic and revenues

- There won‟t be a big growth in the number of Internet users

-24-

102 Transport

Domestic transport In 2006 was 347 million tonnes of goods transported in Norway Road transport is by far the most used transport with 253 million tonnes followed by sea transport with 85 million tonnes Because of the relatively small rail network with only 4000 kilometers of railroads only 4 percent of the goods are transported by rail The transport sector is responsible for 46 percent of GDP and employs 127000 people

International transport Most of the goods to and from Norway are transported over sea Of the 271 million tonnes of goods in 2005 184 million tonnes was transported by ship Nearly 70 percent of all the export was oil

Whatrsquos interesting for Getronics in the transport of Norway Getronics is constantly extending their networks and partnerships agreements They simplify international contract management for their customers providing connectivity wherever it‟s needed In Europe is the network completely covered The export partners of Norway are mostly Europeans which is good for Getronics Export partners UK 27 Germany 128 104 France 94 Sweden 65 US 45 Netherlands 23 67 of the total transport is transported by ship The transport companies would helped by a good network especially when it‟s covered overseas The other way of transport transportation by trucks is 46 held by Norway and 30 percent by Swedish trucks This type of transport characterized by numerous small transport companies and some multinationals In the second table below the most interesting transport companies are

23

The biggest transport companies in Norway are

Nor-Cargo (eigendom van Norway Post) wwwnorcargono

Schenker Norge (vh Linjegods) wwwschenkerno

DanzasDHL (Deutsche Post) wwwdhlno

Tollpost Globe (DFDS amp Sweden Post) wwwtollpostno

Transport of goods from and to Norway by road (in tonnes) Source Statistics Norway ( wwwssbno )

23

Marjella Wingelaar Market Adviser EVD

Goods from Norway Goods to Norway

Total goods To The Netherlands Imports From the Netherlands 2003 3159400 76581 5663067 103773 2004 3486146 80652 6150698 105979 2005 3693346 84108 6272168 115206

-25-

Interesting transport companies for Getronics

Company Turnover (in million euro)

Number of employees

Services Information about Dutch agents

Haakull 20 50 Active in South- and West-Norway Sending every week 60 trucks to Europe

Agent in Holland Road Air Transport BV (Oldenzaal)

Waagan Transport 20 90 Transporting a lot to Germany

Blomquist Bulk Cargo

14 82 Stortlading en groupage

Kingsroslashd Transport 40 85 30 own and 80 hired Trucks Universal Spedisjon

24 53 Transports to many European cities

Local distribution in many European countries

Cargopartner 20 70 Road- sea- and airtransport JP Stroslashm Shipping

65 18 Sea- and roadtransport The director is Dutch honorary consul in Trondheim

Norsk Trailer Express (Nortrail)

112 40 Terminal in Oslo Roadtransport across Europe

Agent in Nederland Wim Bosman Expedition

AS Fellestransport 10 23 Road- sea- and airtransport Agent in Nederland Geodis Vitesse

JMarten AS 42 76 Road- sea- and airtransport expedition and logistic

BH Ramberg 15 58 Expedition transport and logistic

Mainly domestic transport

Their contacts can be found in the annex

103 Industry

The share of industry to the gross domestic product is approximately 26 and 23 of the workforce find work In Norway there are several numbers of industries The aluminum and petrochemical industries are the largest

Aluminum Industry The aluminum industry is besides the oil and gas industry the most important After Russia Norway is the biggest aliminum producer of Europe The most important companies

Elkem (metal chemical)

Norsk Hydro (electricity waterpower)

Orkla Group (chemicalFinancial)

Tinfos (chemical)24

Oil industry Norway was in 2007 one of the three biggest oil-exporters in the world Norway becomes more important for other countries because of the fossil fuel Norway exported 3 million barrels of oil daily in 2007 Mainly

24

httpwwwvakantienaarnoorwegennlbedrijvendatabasenoorwegenhtml

-26-

Norway exports to the UK the Benelux Germany French en the US the export to this countries are interesting for KPN International because of their network in Europe The biggest and most interesting company for KPN International in the oil industry is STATOIL This giant is property of the Norwegian Government Most companies operates near Stavenger Stavenger is one of the most important offshore cities in Norway

25

Biotechnology Market size ndash and development There are over the hundred biotechnology companies the most are small and medium businesses In 2007 they achieved a combined turnover of almost 134 billion euro More than 80 percent of the Norwegian biotechnology is focused on researching cancer and is established near Oslo Opportunity A very interesting project for Getronics is the Oslo Cancer Cluster (OCC) It is internationally recognized as bdquocentre of excellence‟ in cancer research Oslo belongs to the best 20 places for biotechnology in Europe In June 2007 the Oslo Cancer Cluster was awarded the status of bdquoNorwegian Expertise Centrerdquo (NEC) by the government and was given the long term financing The NEC-programme wants innovations and internationalising in clusters strengthen based on cooperation between companies research organizations educational and the public sector The Dutch embassy in Oslo maintains good relations with the cluster it could help Getronics for connecting with the cluster Perhaps they can outsource the network division of KPN International The information they send is sensitive and important they need a professional and high quality network maybe there is a chance for KPN International

26

25

httpwwwvakantienaarnoorwegennlolienoorwegenhtml 26

wwwoslocancerclusterno

-27-

104 Finance

Norway one of the richest countries in the world has a small well-developed financial system The Norwegian banking sector was dominated by huge commercial public banks The most headquarters of the largest banks in Norway are established near the business centres in Oslo en Trondheim In Norway DnB NOR Bank is the most interesting bank for KPN International It is Norway‟s largest bank offering services to the corporate retail and securities markets and the public sector DnB NOR has the largest customer base in the Norwegian financial market and is a leader in most domestic market segments In Norway DnB NOR has more than 22 million retail customers and more than 198000 corporate clients with the bank represented at 200 locations The DnB NOR group‟s activities are primarily focused on Norway however it is one of the world‟s foremost shipping banks and a major international player in the energy sector It has an international network of 13 branches and representative offices which is very interesting for KPN International including Helsinki Copenhagen Hamburg Luxembourg London New York The Bank also operates on the Cayman islands to increase its profit DnBNORBank has in 2008 a turnover of 123239 in million euro

27

KPN International could be an interesting partner for the banks in Norway partly because they successfully qualified for its ISO security certification completing the long list This certification is important for banks

105 Geografic

From south to north Norway has a length of almost 2000km It‟s also a country with one of the most mountains in Europe Vestlandet (the west) is known because of the fjords The main town of this area with the most companies is Bergen Soslashrlandet (the south) Most important city is Kristianstad Troslashndelag is the area around Trondheim Trondheim is the third largest city in Norway in size and got a business centre In the annex you will find a map with the locations of the economic activities in Norway

28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations

For KPN it is interesting to entrance the mobile market in Norway Because there are only two key foreing investors active in the Norwegian market KPN could invest in a network in Norway Mobile broadband is now a key market growth driver as smartphones become more affordable service costs fall and the fact that the range of mobile data applications grow is a positive trend KPN should entrance the market like what they did in Germany and Belgium For KPN the increasing demand for corporate communications services from independent operators and service providers is very interesting The major sectors are transport industry and finance Norway is a real export country 122 billion export against 64 billion import The most export is transported by ship And 70 percent of the export is oil In the chapter transport you will find a list of interesting companies for KPN (the most of these companies have got an agent in the Netherlands) and the transport organizations that export to Europe KPN can be of value for these organizations in the form of communications and data-networks In 2007 Norway was worlds third oil-exporter The biggest and most interesting company for KPN in the oil industry is STATOIL Mainly STATOIL exports to the UK the Benelux Germany French en the US The export to these countries is interesting for KPN because of their data-network in Europe

In the biotechnology sector there is a project called Oslo Cancer Cluster It is internationally recognized as bdquocentre of excellence‟ in cancer research Oslo belongs to the best 20 places for biotechnology in Europe In June 2007 the Oslo Cancer Cluster was awarded the status of bdquoNorwegian Expertise Centrerdquo (NEC) by the government and was given the long term financing The NEC-programme wants innovations and internationalising in clusters strengthen based on cooperation between companies research organizations educational and the public sector The Dutch embassy in Oslo maintains good relations with the cluster This could help KPN International making a connection with the cluster Perhaps they can outsource the network division of KPN International The information they send is sensitive and important they need a professional and high quality network therefore KPN International can be of great value

-29-

The British Islands Guernsey

12 Country facts

Guernsey is a British Crown Dependency in the English Channel off the coast of Normandy It is situated 30 miles (48 kms) west of the coast of Normandy and 75 miles (121 kms) south of Weymouth England The island of Guernsey itself it also includes Alderney Herm Jethou Brecqhou Burhou Lihou Guernsey is not part of the UK but rather a separate possession of the Crown comparable to the Isle of Man Guernsey is also not part of the European Union The island of Guernsey is divided into 10 parishes Together with Jersey it is included in the collective grouping known as the Channel Islands Guernsey belongs to the Common Travel Area

English is the main lanquages and is spoken by the majority of the population The currency of Guernsey is the pound

The population of Guernsey is estimated to be 65870 (2009) Saint Peter Port is the capital of the island According to data from 2001 Saint Peter is the most populated parish of Guernsey with 16488 inhabitants The second most populated parish Vale has inhabitants underneath the 10000

29

Financial services banking fund management insurance account for about 23 of employment and about 55 of total income in this tiny prosperous Channel Island economy Tourism manufacturing and horticulture mainly tomatoes and cut flowers have been declining Financial services construction retail and the public sector have been growing Light tax and death duties make Guernsey a popular tax haven The evolving economic integration of the EU nations is changing the environment under which Guernsey operates

30

Telecommunications of Guernsey Guernsey Telecoms which provided telecommunications was sold by the States to Cable amp Wireless Newtel was the first alternative telecommunications company on the island and now provides a wide range of residential and business telecommunication services as well as high specification data centers Wave Telecom (owned by Jersey Telecom) also provides some telecommunications excluding local loop services

31

13 Sectors

131 Transport sector

Guernsey belongs to the Common Travel Area that allows passport-free travel to and from the UK Railways There are currently no railway services on Guernsey The Guernsey Railway closed in 1934

Air

29

httpenwikipediaorgwikiGuernsey 30

httpwwwtheodoracomwfbcurrentguernseyguernsey_economyhtml 31

httpenwikipediaorgwikiGuernseyEconomy

-30-

Guernsey Airport is located 3 miles south-west of St Peter Port the island‟s capital Airlines operating scheduled services to and from Guernsey are Aurigny Air Services (owned by the States of Guernsey) Blue Islands FlyBe and Air Southwest Buses Bus services are operated by Island Coachways on behalf of the Environment Department of the States of Guernsey (the islands government) Since 2000 the number of passenger journeys by bus has been steadily increasing The total increase over the seven years to 2007 has been 64 Scheduled services now carry over 14 million passengers

32

Sea Ferry travel is a key mode of transport in and out of Guernsey Frequent sailings operate to England via Poole and Weymouth as well as to St Malo and Jersey The Ferry terminal is situated in St Peter Port and is just a short walk from the centre of town There are short and long term parking facilities with space for disabled drivers

33

Condor Ferries operate services to Poole Portsmouth and Weymouth in England Cherbourg and St Malo in France and to Jersey Condor Ferries became the main operator to the UK following the closure of British Channel Island Ferries in 1994 Previously Sealink (and its railway ferries predecessors) had been the main operator for many decades HD Ferries operate ferries to Jersey St Malo and Cherbourg The French company Manche Icircles Express operates a summer passenger-only ferry service between Guernsey and three small ports in Normandy France Barneville-Carteret Dieacutelette and Granville Not every port is served daily The Isle of Sark Shipping Company operates small ferries to Sark The service takes 45 minutes for the 9-mile crossing Roads Traffic in Guernsey drives on the left Roads are generally narrow with speed limits of 25 miles per hour in urban areas and 35 miles per hour elsewhere Motor tax will be abolished in Guernsey from 1 January 2008 There are six taxi ranks in St Peter Port

132 Finance

Financial sector is the most profitable sector for the National Income of Guernsey 40 of the profits are responsible within the financial sector Guernsey is widely recognised as one of the worlds premier international finance centres The Island has a unique mix of talent independence and natural assets which has enabled financial services to flourish for almost 50 years Banking International banking groups with head offices in Switzerland Europe USA the United Kingdom and a number of other international locations have established subsidiaries on the Island Some of the most highly respected names in international finance have chosen to place their operations in Guernsey alongside independent boutique providers The sector provides products ranging from retail banking and savings through international wealth management to institutional business and specialist lending Importantly it services the other financial services sectors (trust insurance investment funds) on the Island

34

32 httpwwwgovggccmnavigationgovernmentfacts---figuresfacts-and-figures-booklet 33

httpwwwallaboutguernseycomharbourasppage_id=41 34

httpwwwguernseyfinancecombanking

-31-

The top 5 of the largest international banks in Guernsey are

The Royal Bank of Scotland (Edinburgh)

Deutsche Bank (Frankfurt)

Barclays (London)

BNP(Banque Nationale de Paris) Paribas (Paris)35

The capital of Guernsey St Peter Port is where these banks and many other banks are located It is the biggest financial centers of Guernsey Insurance The Island‟s international insurance sector comprises pure captives and commercial insurers using flexible vehicles such as protected cell companies and incorporated cell companies to write an extensive range of different business and where major growth areas are

ATE insurance

Credit insurance

Professional indemnity

Reinsurance

Transformer cell Guernsey plays host to subsidiaries of major companies such as

AIG Aon

Barbican

Catlin

Generali

Hiscox

Jardine Lloyd Thompson

Marsh Old Mutual

Royal amp SunAlliance

SCOR and Wil

35

httpwwwbankersalmanaccomaddconinfobankbank-rankingsaspx

-32-

Independent boutique operators such as Heritage Insurance Management and Alternative Risk Management (ARM) are also present providing a holistic environment for insurance solutions Indeed approximately 40 of the UK FTSE 100 and 95 of the Global 1500 companies have captives in the Island In addition to UK companies a number of firms in Europe USA Middle East Asia South Africa Australia and the Caribbean have established captives in Guernsey The financial sector is the biggest sector in Guernsey

133 Industry

Among the most common occupations in Guernsey are Service occupations 23 Production transportation and material moving occupations 20 and Sales and office occupations 18 Approximately 63 percent of workers in Guernsey Wyoming work for companies 25 percent work for the government and 5 percent are self-employed The leading industries in Guernsey Wyoming are Transportation and warehousing and utilities 21 Educational health and social services 17 and Arts entertainment recreation accommodation and food services 15 Simply Hireds Guernsey job listings indicate that the following industries in Guernsey are hiring the most workers Food Service Contractors Catering Services Hospitals Commercial Banking and Industrial Loan Companies

The most popular companies to work for on Guernsey Island are

Cisco Systems

Family Dollar Stores

Western History Center

Pizza Hut

Banner Health36

36

httpwwwsimplyhiredcomalocal-jobscityl-Guernsey+WY

-33-

Isle of Man

14 Country facts

The Isle of Man is a self-governing British Crown Dependency located in the Irish Sea between the islands of Great Britain and Ireland The island is not part of the United Kingdom but its foreign relations defence and ultimate good governance are the responsibility of the Government of the United Kingdom

37 The Isle of Man have 76512 inhabitants

Offshore banking manufacturing and tourism are key sectors of the economy The governments policy of offering incentives to high-technology companies and financial institutions to locate on the island has paid off in expanding employment opportunities in high-income industries As a result agriculture and fishing once the mainstays of the economy have declined in their shares of GDP Banking and other services now contribute 42 to GDP Trade is mostly with the UK The Isle of Man enjoys free access to EU markets

38

The government has invested in especially

Energy infrastructure

Commercial sector Social and housing sectors to reduce our dependency on imported energy and to improve our economic competitiveness Telecommunications of Isle of Man The main telephone provider on the Isle of Man is Manx Telecom At present the island has two mobile operators Manx Telecom previously known as Manx Pronto and Sure For a short time Cloud9 operated as a third mobile operator on the island but has since withdrawn Broadband internet services are available through four local providers which are Wi-Manx Domicilium Manx Computer Bureau and Manx Telecom In December 2007 the Manx Electricity Authority and its telecommunications subsidiary e-llan Communications commissioned the lighting of a new fibre-optic link that connects the island to a worldwide fibre-optic network

39

141 Transport

Sea The island has a total of 688 miles of public roads all of which are paved Many of the roads on the island have no speed limitThe Isle of Man Sea Terminal in Douglas is served by frequent ferries to and from Liverpool and Heysham and more limited summer-only services to and from Belfast and Dublin All ferries are operated by the Isle of Man Steam Packet Company Air The only commercial airport on the island is the Isle of Man Airport at Ronaldsway There are scheduled and chartered flights to numerous mainland UK airports as well as to airports in France Ireland the Netherlands Spain and Switzerland

37

httpnlwikipediaorgwikiMan_(eiland) 38 httpwwwworldfactsandfigurescomcountriesspecialman_isle_ofphp 39 httpenwikipediaorgwikiIsle_of_Man

-34-

Railway The island has a total of 685 km of railway of which 435 km (270 miles) is electrified There are six separate rail systems on the island

Isle of Man Steam Railway - operated by Isle Of Man Heritage Railways

Manx Electric Railway - operated by Isle Of Man Heritage Railways

Snaefell Mountain Railway - operated by Isle Of Man Heritage Railways

Douglas Horse Tram - operated by the Douglas Borough Council

Groudle Glen Railway - operated by the Isle of Man Steam Railway Supporters Association

Great Laxey Mine Railway - operated by the Laxey amp Lonan Heritage Trust

Beginning at Peel on the west coast of the island one can make a circular tour of the Isle of

Roads Roads are named using a numbering scheme similar to those used in the numbering of roads in Great Britain and Northern Ireland each road is assigned a letter which represents the roads category and a subsequent 1ndash2 digit number A roads constitute the main roads of the island whilst roads labelled B to D will decrease in size and or quality

40

142 Finance

The booming economy of the Isle of Man is largely due to the success of the financial services industry - the largest sector on the Island The main activities of the sector include deposit-taking asset protection and management packaged investments such as unit trusts life assurance and also corporate management Markets for these services are world-wide and the Isle of Man has built an exceptional reputation as a centre of excellence for expatriate banking Regulation of the finance sector in the Isle of Man is carried out by the Financial Supervision Commission and the Insurance and Pensions Authority

41

Banking The majority of banks in the Isle of Man are engaged in providing private banking services to expatriates of the United Kingdom and to foreign nationals The services offered by banks often extend beyond deposit taking to establishing and administering trusts and managing the underlying companies and assets held by those trusts including investment management A significant array of wealth management solutions have evolved to meet a growing demand Corporate and institutional clients such as captive insurance companies life assurance companies and fund managers all require sophisticated banking services particularly in the money markets and this has led to an expansion in the continuing growth in the provision of such services

42

The top 5 of the largest banks in Isle of Man are

AIB Isle of Man

Alliance amp Leicester International Limited

Anglo Irish Bank Corporation

Bradford amp Bingley International Limited

Zurich Bank International Limited

The capital of Isle of Man Douglas is where these banks and many other banks are located It is the biggest financial centers of Isle of Man Insurance Over the last 25 years the Isle of Man has developed one of the largest and best respected offshore insurance centres The Insurance and Pensions Authority is charged with the regulation of the insurance sector

43

40

httpenwikipediaorgwikiTransport_in_the_Isle_of_Man 41

httpwwwisleofmancombusinessandfinancefinancesectoraspx 42

httpwwwisleofmancombusinessandfinancefinancesectorbankingaspx 43

httpwwwgovimIPA

-35-

143 Industry

Energy The council of Minister‟s Energy amp Climate Change Sub-Committee (ECCC) is to ensure the islands policy on energy is sustainable for the future The three key aims are

44

To maintain the security of energy supply

To secure the efficient use of affordable energy and

To minimize the impact of our energy use on the Environment Isle of Man is the centre of excellence for the low carbon and Clean-Technology sector An efficient natural gas power station that has substantially reduced the CO2 emissions of Island of Man now produces electricity that is 20 cleaner than the UK grid The island is very environmentally conscious The most important companies on the Island of Man are

SITA Isle of Man (a recycling and resource management company) SITA UK delivers sustainable and increasingly innovative solutions for the public local government industry and commerce enabling their customers to minimize the impact of their waste on the environment

45

The Manx Electricity Authority (MEA) is a providing the population with a safe reliable and economic electricity supply

ldquoManx Gas Ltd is jointly owned by two partners being the International Energy Group with gas utilities in Guernsey Jersey and Portugal and Calor Gas Plc the principal supplier of Liquefied Petroleum Gas (LPG) products in the UK with similar interest throughout main land Europe

46rdquo

ldquoThe Isle of Man Water Authority is a statutory body and is charged with ensuring the economic efficient and effective provision of the services and infrastructure necessary to meet the Islands needs in terms of a wholesome supply of drinking water The principal objective is to provide a safe reliable and high quality water supply to customers homes backed by an equally efficient customer service The vision of the future is Crystal Clear Drinking Water for the Islands population

47rdquo

E-business Isle of Man offers

Excellent telecoms and power infrastructures

Zero rate of corporate tax

The support of generous financial packages and a committed Government all add up to a proposition that is hard to beat

These points are oppurtunaties for companies to come over to the Isle of Man The Isle of Man offers a great location to facilitate the growth of global e-business With a first class telecommunications structure and a low-tax environment it‟s able to attract e-businesses from around the globe It is also a great location for high-tech financial services Isle of Man offers comprehensive support services such as

Website design

Software and hardware suppliers

Internet payment gateway facilities

44

httpwwwgovimdtiEnergyenergywelcomexml 45 httpwwwsitacoimabout-us 46

httpwwwgovimIsleOfManenergyxml 47

httpwwwgovimIsleOfManenergyxml

-36-

Jersey

15 Country facts

Jersey is a parliamentary democracy which is a dependency of the British Crown It is a British Island but is not part of the United Kingdom or the European Union nor is it a colony

48

The island covers 45 square miles and is located 100 miles of Britain and 14 miles from its coast Jersey is the most southerly island of the British Isles Below the facts of Jersey

Population (juli 2009) 91626

Capital Saint Helier

Official languages English French

Trade language English

Currency Pounds (pound)

The table below describes the sectors were the most the employment is (2010)

49

16 Sectors

161 Finance

Jersey has in a few high-return sectors a lot of specialization This is why the island has a high economic output per capita and is substantially ahead of all of the world‟s developed economies The economy of Jersey is very depending on financial services electronic commerce agriculture and tourism The financial services contribute about 60 of Jersey‟s economy Jersey is one of the world‟s leading offshore financial centers

50 The international financial

services amp legal services accounted for 53 of the total Gross Value Added (GVA) in 2007 In

48

httpwwwjerseycomenglishaboutjerseytheislandpeopleandgovernmentpagesdefaultaspx

49 httpwwwgovjeSiteCollectionDocumentsIndustry20and20financeR20Retail20Framework202010032320EDDpdf

50 httpenwikipediaorgwikiJerseyEconomy

-37-

2008 the financial sector counted around 12000 full-time employed people The profit of the sector in 2007 was about pound 15 billion representing a real-term increase of 12 on 2006

51

The Jersey‟s Gross National Income (GNI) per capita in 2008 has been amongst the highest in the world The Gross Domestic Product (GDP) of Jersey in 2005 was estimated at US $ 57000 accoridng to the CIA World Factbook Jersey had taken the 3

rd place the other

places were taken by Luxembourg and Bermuda Banks Over one in nine of Jersey‟s population are financial services professionals and many banks investment management companies and brokers have chosen for the centre (Saint Helier) as a base The centre of Jersey is politically and economically stable Although Jersey is a very small island Jersey counts 47 registered banks The biggest bank has 900 people in service on March 2009 and is The Royal Bank of Scotland (RBSI) Other banks in Jersey are

Bank Profit Employees Jersey Where

Bank of Scotland International pound 394 x World

Barclays Bank Finance Company (Jersey) Limited 1513bln 500 World

ING Bank (Jersey) Limited euro 499 mln World

Kleinwort Benson pound 21 bln x UK and islands

ABN Amro (Jersey) Limited euro 36 bln x World

Standard Bank Offshore $182 bln x Jersey Isle of Man Mauritius

Tax haven Jersey is known for a tax haven the island has no Value Added Tax (VAT) and the income tax is much more lower than in Europe The (flat) rate for the income tax is 20 The law of inheritance and also the exempted part of entering is more favorable for taxes

162 Transport

In Jersey most goods are imported and exported by Huelin-Renouf Ferryspeed and other smaller operators via Jersey Airport of Saint Helier Saint Helier is the capital of the island and has a population of about 28000 (2001) roughly 312 of the total population in Jersey It is also the place where the most companies are located

52 The import and export of goods to and from the UK were done by the British Channel Island Ferries between 1984 and 1994

Since 1952 Jersey is part of the Common Travel Area along with all of the three Channel Islands Isle of Man Great Britain and Ireland The Common Travel Area implies that the

inhabitants of the countries can travel with a minimum of identity documents 53

Projects The construction of the new Energy from Waste (EFW) plant started at the beginning of 2009 with completion in 2011 This project is a complex and demanding project Due the EFW system the advantage for Jersey is the exceptional volume reduction of waste In other countries in the world waste is compacted into a landfill site and buried Jersey doesn‟t have the space for a non inert landfill site At the moment there is a New Energy from Waste Plant currently under construction This is the biggest capital project ever undetaken on the island In 2010 and the coming years the island has the priority segregating the most harmful elements of the waste stream in order improve the enviroment The next other transport taskes will be performed in 2010

51

httpenwikipediaorgwikiEconomy_of_Jersey 52

httpwwwhooverscomfreegeoindexxhtmllocation=Channel+IslandsJersey httpuklocalyahoocomJerseySt_HelierCredit_2526_Finance_Companiesuk100000139-s-538540html 53

httpenwikipediaorgwikiCommon_Travel_Area

-38-

Introduction of a Sustainable Transport Policy

Provision and management of public parking facilities

Improvement of access and mobility for all

Jersey is working on four major stratgies in 2010 for the island

Solid Waste Strategy

Sustainable Transport Policy

Liquid Waste Strategy

Inert Waste Strategy

The conclusion of these strategies is that the island works on the waste

The follow companies are the biggest and most important companies in Jersey in the trasnport sector

3i Infrastructuur (investment company that invests in infrastructure businesses and assets)

PDFS LTD (provider of shared user services to all the UK‟s offshore islands and to Northern and Southern Ireland)

Telecom infrastructure Most of the telecoms infrastructure is owned by Jersey Telecom

54 Jersey Telecom a fully

incorporated private company had a turnover in 2008 of pound911 million an increase of 48 compared with 2007

55 The States of Jersey owns Jersey Telecom since 2003

Aviation There is one airport in Jersey Jersey airport is located in Saint-Peter nearby the capital Saint Helier Jersey Airport transported 16 million passengers in 2008 The airport is working on an

improving of services for passengers56

163 Industry

Agriculture

The most important export crops in Jerseyare potatoes cauliflower tomatoes and flowers These products are mostly shipped to the UK In 2009 the Jersey Royal potato is the biggest crop export

Construction sector

During 2007 the construction sector represented 52 of the GVA De grew of the sector from

2006 till 2007 was 8 In June 2008 4980 people worked in the construction and quarrying

sector

Retail amp Wholesale

In June 2008 there were 6610 persons in the retail amp wholesale trades Retail amp wholesale

grew by around 5 during 2007

Tourism

Tourism is one of the main sources of revenue Jersey In 2006 there wer 729000 visitors who visit the island this is a decreasing of 3

54


httpwwwjerseytelecomcomtemplatesLayoutBaspxid=2368 56

httpenwikipediaorgwikiJersey_Airport

-39-

17 Recommendation

Guernsey The analysis showed that the financial sector is the largest and important sector of Guernsey This sector is also the most interesting sector for KPN The advantage is that Guernsey is a small island and the most of the largest financial companies are located in the capital So it is easier and quicker to reach these companies Advances in communications technology are making the world a smaller place to do business A simple mouse click can transfer millions of dollars to the next hemisphere in an instant Today there are rapid shifts in the world and companies need increaslingly faster data Possible opportunities are available here for KPN Isle of Man Isle of Man is the centre of excellence for the low carbon and Clean-Technology sector The booming economy of the Isle of Man is largely due to the success of the financial services industry - the largest sector on the Island The main activities of the sector include deposit-taking asset protection and management packaged investments such as unit trusts life assurance and also corporate management Markets for these services are world-wide and the Isle of Man has built an exceptional reputation as a centre of excellence for expatriate banking Regulation of the finance sector in the Isle of Man is carried out by the Financial Supervision Commission and the Insurance and Pensions Authority

57

KPN should invest in these financial areas and develop and sell there business systems to these companies Jersey Jersey is an island that has many opportunities in certain sectors The financial services contribute about 60 of Jersey‟s economy The island is in terms of financial services particularly in the fund management sector where Jersey is a world leader If KPN will do there business in Jersey they have to work with banks and other financial institutions because of the impact of the financial sector When KPN will go to Jersey and do business with a bank they should first choose

Standard Bank Offshore

Kleinwort Benson

ING Bank (Jersey) Limited

ABN Amro (Jersey) Limited The first two banks are operating in Jersey Isle of Man Mauritius and the UK KPN should also have to choose for the Dutch banks that are located in Jersey KPN is originally a Dutch company These two banks are probably known with the services KPN offers This can lead to a good and efficient collaborations

171 Conclusion recommendation

The British Islands have a lot of oppurtunaties especially in the financial sector this is why KPN should go to these islands The oppurtunaties of the three islands are

There is almost no competition on the islands for KPN in the telecommunication sector

Guernsey is widely recognised as one of the worlds premier international finance centres

Jersey is in terms of financial services particularly in the fund management sector where the island is a world leader

Isle of Man is the centre of excellence for the low carbon and Clean-Technology sector and has a lot of opportunities in the energy market

KPN can offers these banks a variety of telephone and internet data network services

57

httpwwwisleofmancombusinessandfinancefinancesectoraspx

-40-

18 Sources

httpwwwhollandtraderocontentaspxid=8 httpwwwevdnlzoekenshowbouwsteenaspbstnum=206824amplocation=amphighlight=Roemenie httpwwwccimechelenbedocuERGON20ROEMENIEppt2914Slide 4 httpwwwdoingbusinessro httpwwweastwardscom httprbddoingbusinessroro5evolutia-principalelor-sectoare-economiceall257 httprbddoingbusinessroro5evolutia-principalelor-sectoare-economice148overview-of-romanian-financial-sector httpnederlandrovraagbaakhtm httpwwwwereldinformatienl httpwwweuractivcomeneurohuge-bureaucracy-prevents-romania-eu-fundsarticle-180154 httpfindarticlescomparticlesmi_6773is_2_9ai_n36509561 httpwwwevdnlzoekenshowbouwsteenaspbstnum=216432 investeringen Orange ECI telecom Vodafone in Roemeense bedrijven httpsearchbnetcomindexphpq=Romania httpwwwinvestmentrealestateromaniaeuroemenie_europese_structuurfondsen_en_cohesiefonds_2007_2013_subsidies_roemenie

-41-

19 Annex

-42-

Annex 1

Construction companies ACI CLUJ SA Strada Dorobanţilor Nr 70 400609 Cluj-Napoca CLUJ tel+40-264-405202 fax+40-264-410165

APOLODOR COM IMPEX SRL

Bulevardul Theodor Pallady Nr 45

032258 Bucureşti Sector 3

Tel+40-21-3455030

Fax+40-21-3450000 COLAS SA FRANTA SUCURSALA ROMANIA Strada Tudor Vianu Nr 3 011635 Bucuresti Sector 1 Tel +40-21-2038033 Fax+40-21-2038035 CONSTRUCŢII FEROVIARE IAŞI - GRUP COLAS SA Strada Sergent Grigore Ioan Nr 10 700440 Iaşi IAŞI Tel +40-232-221969 Fax +40-232-221727 ELECTROMONTAJ SA Strada Candiano Popescu Nr 1 Bucureşti Sector 4 Tel +40-21-3367593 Tel +40-21-336758490 Fax +40-21-3367492 Fax +40-21-3367520 HIDROCONSTRUCŢIA SA Calea Dorobanţilor Nr 103-105 Bucureşti Sector 1 Tel +40-21-2081400 Fax +40-21-2081401

ROMSTRADE SRL Şoseaua Giurgiu-Bucuresti Km 19+500 087005 Adunaţii Copăceni GIURGIU tel +40-246-282049 fax +40-246-282049

SPEDITION UMB SRL Strada Mărăşeşti Nr 145 Bacău BACĂU Tel +40-234-2082000102 +40-234-208203 Fax+40-234-208229

Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-

TEHNOLOGICA RADION SRL Strada Dacircmboviţa Nr 59-61 Bucureşti Sector 6 Tel +40-372-118300 Fax +40-372-118330

Annex 2

Transport Companies58 AQUILA PART PROD COM SRL Strada Malu Roşu Nr 105A 100491 Ploieşti PRAHOVA Tel +40-244-594793 Fax +40-244-594793

COMPANIA NATIONALA DE AUTOSTRAZI SI DRUMURI NATIONALE DIN ROMANIA SA Bulevardul Dinicu Golescu Nr 38 010873 Bucureşti Sector 1 Tel +40-21-3186601 Fax +40-21-3120984 EDY INTERNATIONAL SPEDITION SA Calea Zarandului Nr 258 Deva HUNEDOARA Tel +40-254-206800 Fax +40-254-206818 PA amp CO INTERNATIONAL SRL Strada Principală Nr 557 Oituz BACĂU Tel +40-234-337700 Fax +40-234-337705

REGISTRUL AUTO ROMAcircN RA Calea Griviţei Nr 391A Bucureşti Sector 1 Tel+40-21-2027000 ndash centrala Fax+40-21-318175472

58

httpmcirdoingbusinessroentransport-cargo

Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59

httpwwwweforumorgenindexhtm 60

httpwwwweforumorgenindexhtm

-45-

Annex 561

61

httpwwwpmrpublicationscom

-46-

-47-

Annex 6

62

Annex 7

63

62

The Global Competitiveness Report 2009-2010 World Economic Forum 63


-48-

Annex 8

Annex 9

Industrial parks Hungary (concentrated at Budapest)64

64

httpwwwitdhcomengineaspxpage=Itdh_IndustrialParks

-49-

Annex 10

Map of the locations of the industries in Norway

-50-

Annex 11

Contact transport companies Norway

Haringkull AS Stokkamyrveien 22 4313 Sandnes Telefoon +47 5163 6060 Fax +47 5163 6050 E-mail haakullhaakullno Internet wwwhaakullno

Waagan Transport AS Blindheim Industrivei 4 6020 Aring lesund Telefoon +47 7019 7000 Fax +47 7019 7001 E-mail postwaaganno Internet wwwwaaganno

Blomquist Bulk Cargo AS POBox 46 3960 Stathelle Telefoon +47 3596 8980 Fax +47 3596 8981 E-mail janherambkarlsenbbcas Internet wwwbbcas

Kingsroslashd Transport POBox 513 1703 Sarpsborg Telefoon +47 6911 1500 Fax +47 6916 4266 Internet wwwkingsrodno

Universal Spedisjon POBox 706 0106 Oslo Telefoon +47 2321 3400 Fax +47 2321 3480 E-mail mailunispedno Internet wwwunispedno

Cargopartner AS POBox 63 0915 Oslo Telefoon +47 2413 4000 Fax +47 2413 4001 E-mail cargopartnercargopartnerno Internet wwwcargopartnerno

JP Stroslashm Shipping Pir II Nr 10 7412 Trondheim Telefoon +47 7353 9300 Fax +47 7353 9373 E-mail firmapostjpsno Internet wwwjpsno

Norsk Trailer Express AS POBox 3 0614 Oslo Telefoon +47 2280 1700 Fax +47 22 80 1770 E-mail nortrailnortrailno Internet wwwnortrailno

AS Fellestransport POBox 213 0614 Oslo Telefoon +47 2290 6200 Fax +47 2290 6300 E-mail firmapostfellestransportno Internet wwwfellestransportno

-2-

Table of Contents

1 Executive summary 4

Romania

2 Country facts 6 21 Bureaucracy amp Corruption 6

3 Sectors 7

31 Industryhelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip7 32 Transport 9 33 Finance 9 34 Watermanagement and water purification 10

4 Business Regions 12 41 West-Romania 12 42 Northwest Romania 12 43 Bucharest 12 44 Constanta 13

5 Recommendation 13

Hungary

6 Country Facts 15 7 Sectors 16

71 Transport 16 72 Finance 18 73 Industry 19 74 Getronics 19


Norway


101 The Telecom Sector - Mobile 22 102 Transport 24 103 Industry 25 104 Finance 27 105 Geografic 27


British Islands Guernsey


131 Transport sector 29 132 Finance 30 133 Industry 32

-3-

Isle of Man


Jersey






-4-

1 Executive summary





-5-


-6-










Citizens



Communications







2 see annex 3




1 wwwciagov



-7-


3 Sectors


4






-8-




-9-

32 Transport
















In annex

33 Finance7




-10-









-11-


-12-

4 Business Regions

41 West-Romania






43 Bucharest






-13-


44 Constanta



-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-3-

Isle of Man


Jersey






-4-

1 Executive summary





-5-


-6-










Citizens



Communications







2 see annex 3




1 wwwciagov



-7-


3 Sectors


4






-8-




-9-

32 Transport
















In annex

33 Finance7




-10-









-11-


-12-

4 Business Regions

41 West-Romania






43 Bucharest






-13-


44 Constanta



-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-4-

1 Executive summary





-5-


-6-










Citizens



Communications







2 see annex 3




1 wwwciagov



-7-


3 Sectors


4






-8-




-9-

32 Transport
















In annex

33 Finance7




-10-









-11-


-12-

4 Business Regions

41 West-Romania






43 Bucharest






-13-


44 Constanta



-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-5-


-6-










Citizens



Communications







2 see annex 3




1 wwwciagov



-7-


3 Sectors


4






-8-




-9-

32 Transport
















In annex

33 Finance7




-10-









-11-


-12-

4 Business Regions

41 West-Romania






43 Bucharest






-13-


44 Constanta



-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-6-










Citizens



Communications







2 see annex 3




1 wwwciagov



-7-


3 Sectors


4






-8-




-9-

32 Transport
















In annex

33 Finance7




-10-









-11-


-12-

4 Business Regions

41 West-Romania






43 Bucharest






-13-


44 Constanta



-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-7-


3 Sectors


4






-8-




-9-

32 Transport
















In annex

33 Finance7




-10-









-11-


-12-

4 Business Regions

41 West-Romania






43 Bucharest






-13-


44 Constanta



-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-8-




-9-

32 Transport
















In annex

33 Finance7




-10-









-11-


-12-

4 Business Regions

41 West-Romania






43 Bucharest






-13-


44 Constanta



-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-9-

32 Transport
















In annex

33 Finance7




-10-









-11-


-12-

4 Business Regions

41 West-Romania






43 Bucharest






-13-


44 Constanta



-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-10-









-11-


-12-

4 Business Regions

41 West-Romania






43 Bucharest






-13-


44 Constanta



-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-11-


-12-

4 Business Regions

41 West-Romania






43 Bucharest






-13-


44 Constanta



-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-12-

4 Business Regions

41 West-Romania






43 Bucharest






-13-


44 Constanta



-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-13-


44 Constanta



-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-14-


-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-15-

Hungary

6 Country Facts





GDP $1863 billion


industry 343

services 624


agriculture 5

industry 324

services 626




Citizens

Population 9905596


Communications



14

12




-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-16-



15


16


7 Sectors

71 Transport



15




-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-17-



19


18




2007 2008





-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-18-

72 Finance


20


21


20



ctor

Foreign investments

0

1

2

3

4

5

6

2005 2006 2007 2008

Billio

n euro

Foreign

investments

-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-19-

73 Industry


74 Getronics22


22


43

-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-20-

8 Recommendations


-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-21-

Norway

9 Country facts







GDP $2765 billion




Population 4660539


Communications






-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-22-


10 Sectors







-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-23-











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-24-

102 Transport




23







23




-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-25-



Number of employees




















103 Industry






Tinfos (chemical)24


24


-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-26-


25


26

25



-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-27-

104 Finance


27


105 Geografic


28

27

wwwdnbnorcom 28

wwwlandwebcom

-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-28-

11 Recommendations



-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-29-


12 Country facts




29


30


31

13 Sectors



Air

29




-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-30-


32


33


132 Finance


34




-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-31-




Barclays (London)



ATE insurance

Credit insurance


Reinsurance


AIG Aon

Barbican

Catlin

Generali

Hiscox


Marsh Old Mutual


SCOR and Wil

35


-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-32-


133 Industry



Cisco Systems



Pizza Hut

Banner Health36

36


-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-33-

Isle of Man

14 Country facts




38




39

141 Transport


37


-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-34-










40

142 Finance


41


42


AIB Isle of Man






43

40




httpwwwgovimIPA

-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-35-

143 Industry


44





45



46rdquo


47rdquo






Website design



44




-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-36-

Jersey

15 Country facts


48








49

16 Sectors

161 Finance




48




-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-37-


51


rd place the other










162 Transport






51




-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-38-



















163 Industry

Agriculture


Construction sector



sector




Tourism


54




-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-39-

17 Recommendation


57



Kleinwort Benson










57


-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-40-

18 Sources


-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-41-

19 Annex

-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-42-

Annex 1





Tel+40-21-3455030




Turnover

37434214 EURO (2008)

Employees

587

Turnover

95514551 EURO (2008)

Employees

459

Turnover

80444092 EURO (2008)

Turnover

49976559 EURO (2008)

Employees

1116

Turnover

52289141 EURO (2008)

Employees

1491

Turnover

249477531 EURO (2008)

Employees

7493

Turnover

218168413 EURO (2008)

Employees

1140

Turnover

176363693 EURO (2008)

Employees

22

-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-43-


Annex 2




58


Turnover

180810131 EURO (2008)

Employees

2329

Turnover

92883811 EURO (2008)

Employees

1427

Turnover

185279486 EURO (2008)

Employees

6405

Turnover

74611762 EURO (2008)

Employees

1428

Turnover

63619401 EURO (2008)

Employees

715

Turnover

57918437 EURO (2008)

Employees

1531

-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-44-

Annex 359

Annex 460

59



-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-45-

Annex 561

61


-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-46-

-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


-49-

Annex 10


-50-

Annex 11











-47-

Annex 6

62

Annex 7

63

62



-48-

Annex 8

Annex 9


64


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Annex 10


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Annex 11











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Annex 8

Annex 9


64


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Annex 10


-50-

Annex 11











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Annex 10


-50-

Annex 11











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Annex 11











Strategic plan KPN

Documents

Transcript of Strategic plan KPN