Faroese business group signs cooperation deal in Greenland

About 120 Faroese business representatives have taken part in a major business initiative in Greenland, where an agreement was signed to strengthen ties between businesses in the two countries, KVF reported.

The agreement was signed on Thursday evening by the Faroese Employers’ Association and Greenland Business. The delegation was led by Jacob Vestergaard, the Faroese minister for business affairs.

Greenland is preparing major investments in energy, telecommunications and infrastructure. Plans also include funding to launch a mining industry, develop tourism, build new housing and renovate existing homes.

Further expansion is planned in security and defence.