GEOGRAPHY MAYOR MORTENSEN’S BOLD VISION FOR THE CAPITAL Undergoing unprecedented development, the City of Tórshavn looks poised to build a strong position as a service center in the international maritime industry, a regional and domestic traffic hub, and a cultural and educational powerhouse. AYOR of Tórshavn Heðin Mortensen, of Tórshavn, we realized long time ago that a long­standing advocate for far­ there are plenty of business opportunities in Mreaching development projects in the Faroese maritime services. capital, has unveiled his grand vision of an “At the same time we acknowledge the international hub in the maritime industry. necessity of maintaining, upgrading and ac­ During a presentation at the Danish quiring, on an ongoing basis, the facilities Parliament, Mr. Mortensen said that the required for participating competitively in Municipality of Tórshavn has been looking that industry.” MARIA OLSEN into opportunities in developing maritime “We are determined to become part of City of Tórshavn services with a large extension plan for the this promising future,” the Mayor added Vaglið, PO Box 32 FO-110 Tórshavn Port of Tórshavn taking stock of facilities with a references to the prospects of a ship­ necessary for the Faroe Islands to be inter­ ping boom in the Arctic region and the wa­ www.torshavn.fo nationally competitive in this field. ters surrounding the Faroe Islands. E-Mail: [email protected] The “New business opportunities in Three key advantages of Tórshavn in the Mayor Heðin Mortensen; Vágsbotnur seen from the West Harbour (below); Aerial view of harbors and surroundings (opposite). Tel.: +298 302010 Fax: +298 302011 the North Atlantic” conference, held at the context of international competition were Folketing in Copenhagen in April this year noted in the mayor’s speech—geographical Mayor: Heðin Mortensen (2015), brought together policy makers and location; relevant expertise; and the planned Yet another project is Tórs havn’s Nearing completion as of this writ­ one of our key advantages from a North Chief Executive: Ingibjørg Berg other delegates to discuss ship traffic and harbor development. international football stadium Tórs vøll­ ing (April 2015), the building—set to Atlantic regional perspective. Tórshavn is the main economic, a major shipping lane taking shape in the On a separate note, several large projects ur with an audience capacity of 9,000; place all of BankNordik’s operations in “We are situated in the immediate political and cultural center of Arctic region between Europe and Asia, as are currently being carried out or planned in the next phase of the current extension Tórshavn under one roof and gather all of vicinity of a major shipping lane between the Faroe Islands.Tórshavn has been the capital of the well as stressing regional tourism. the Faroese capital for completion within the will see a roof structure added above the the bank’s local employees there—is al­ Europe and Asia, the Northeast Passage Faroe Islands since 850 “The Faroe Islands has a proud history near future. These projects include the con­ spectator area on the eastern side of the ready having an impact on the cityscape with forecasts of an explosive increase A.D. and is the country’s and an excellent reputation as a seafaring struction of the impressive Markna gils dep­ pitch. of Tórshavn. in ship traffic in the future. With our largest population center. nation,” Mr. Mortensen told the delegates. il in, a 19,500 square meter college building Last but not least is the planned high proximity to this sea lane relative ‘SERIOUS COMMITMENT’ Today, the Municipality has “Our seafarers are famed for their competence that will house 1,300 students. The complex, extension of the East Harbour to sub­ to other ports, there are some obvious a population of around and flexibility and because of that they are set to open in the autumn of 2016, includes Then there is BankNordik’s new head­ stantially upgrade the Port of Tórshavn’s business opportunities which now call 20,000, which is more than 40 in high demand around the world. In the college, business school and technical college, quarters, a circular building on a hill capacity to meet the challenges of grow­ for serious commitment to development.” percent of the total population Faroe Islands, not least in the Municipality in a highly versatile solution. with a spectacular, 360­degree view. ing ship traffic. This is directly linked to Part of the client base for maritime of the Faroe Islands. Another example is the Eysturoyar­ Mayor Mortensen’s vision of Tórshavn as services will be found in the offshore en­ The Municipality of tunnilin, a 1.2 billion dkk (160M eur) an international maritime hub. ergy industry, for example in the oil and Tórshavn encompasses the fixed link between Tórshavn and the two “The extension of the port will en­ gas fields in the West of Shetland area communities of Tórshavn, Argir, arms of the longest fjord on neighboring able us to make full use of existing ex­ as well as in the Norwegian sector of Hoyvík, Hvítanes, Kaldbak, Eysturoy through a gigantic underwater tun­ pertise to meet increasing demand and the North Sea. Kaldbaksbotnur, Kirkjubøur, Velbastaður, Kollafjørður, nel, scheduled for completion by the second participate in the business growth of the “We are closer than say Aberdeen Oyrareingir, Signabøur, Sund, half of 2019. Undertaken by an incorporated region,” Mr. Mortensen said. to some of the large oil fields northwest Norðradalur, Syðradalur and entity under the Faroese government, the “Even if the Faroe Islands is a small of Shetland,” the Mayor said. “With the the neighboring islands of Eysturoyartunnilin is the single largest con­ country and even if the Port of Tórshavn extension of our harbor facilities, we will Nólsoy, Hestur and Koltur. struction project in the history of the Faroe is small, we see large opportunities in be more able to meet the requirements of Islands. our attractive geographical location as the demanding offshore industry.” 18 • 2015 Faroe Business Report Faroe Business Report 2015 • 19.