- Industry in Iceland
There have been
some major changes in Icelandic industry over the past few
years. Innovation has been stimulated primarily by a more
liberal business climate and rapid progress in science and
technology, particularly in information and communication
technology has been a great help.
The fundament of the Icelandic
economy are renewable natural resources: rich fishing grounds, hydro and
geothermal power, and pastureland. For the last years the importance of human capital is
steadily increasing, as witnessed by the fast-growing number of computer
software and biotechnology companies in Iceland.