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The world bank used the subnational oslo teknopol to

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Unformatted text preview: position as a reliable, innovative and “clean and green” country. Operationally, the central government should work closely with the private sector, academia and unions in a bottom up approach to create solutions tailored to local and regional strengths. The government should create a broad ­based national competitiveness commission with a permanent secretariat in Oslo and with branches at the local level to promote this process and provide accountability. Challenge no. 2: Openness of the Economy Norway’s economy is closed and insufficiently diversified with limited local competition. Recommendations: Launch an ambitious “Plan to Attract FDI” that more aggressively pursues FDI through trade missions, reduced regulatory burden, and bilateral trade agreements with distant markets. Norway should establish a government agency to The oil & gas cluster in Norway 27 promote inward FDI,3 which could be housed in Innovation Norway missions abroad, and which draws upon dedicated talent and a separate budget. The role of the state must be balanced against the need to attract foreign capital and know ­how and promote competition. The government should also target increasing the trade flows of the non ­oil economy by fostering regional integration (Baltic region, Scandinavia + Russia, etc.). Challenge no. 3: Innovation System R&D relies heavily on public spending, leading to lower outcomes than peer countries. R&D is not driving the transformation of the economy, but is serving existing industries. Recommendations: The system for public expenditure on R&D should be reviewed and reformed with increased focus on efficiency and accountability for outcomes. Public funding should not be a routine source of financing for the private sector but an instrument to cor...
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