Finland Times

The Lapland Chamber of Commerce is hosting the fifth conference of the forum expected to be participated by a number of business personalities from home and abroad where business leaders, academicians, researchers, diplomats and high government officials will discuss various aspects of investment including the latest business development and future prospects in the burgeoning arctic economy. The first conference took place in 2010.

According to a Lapland Chamber of Commerce study, the European High North region holds ongoing and planned investments of more than 100 billion euro in this decade.

Leaders of the forum said this year's conference will focus on issues related to climate change and business, new arctic transport routes, energy, mining, debate on Arctic design, tourism etc in the arctic region. 

Vast natural resources and melting of the Arctic Sea ice have turned the Arctic region into an interesting new destination for investment, said the forum organisers pointing out the impact of global warming on the region. 

They said updated information would help the conference participants get new ideas and business concepts under the emerging circumstances. 

"Business-wise the European High North has become an exciting new destination for investments," said Lapland Chamber of Commerce President and Chief Executive Officer Timo Rautajoki in a speech.

He said the northern areas of Finland, Sweden, and Norway and regions of Murmansk and Arkhangelsk in Russia held ongoing and planned investments worth more than 100 billion euro in this decade alone.

The Arctic region has become an area of business interest on a global scale due to its vast natural resources and melting of Arctic Sea ice, said Rautajoki, adding that the area in many ways was going through a new challenging era.

He said the annual Arctic Business Forum would introduce the latest business development and future prospects of the area keeping the global context in mind. "The 5th Arctic Business Forum covers two days of world class presentations by invited speakers, a trade show and a high class social programme," the chamber president added.

The conference organisers have already launched the registration process for interested participants. It will remain open till March 1 and the registration fee, including VAT, has been set at 806 euro for a person. 

The organisers also have reserved a number of rooms at different hotels in the city for the participants and anyone interested should be able to complete the reservation by paying directly to the hotel authorities.