Arab Today, arab today china tycoon slams iceland over failed land bid
Last Updated : GMT 07:58:57
Arab Today, arab today
Arab Today, arab today

China tycoon slams Iceland over failed land bid

Arab Today, arab today

Arab Today, arab today China tycoon slams Iceland over failed land bid

Shanghai - AFP

The Chinese tycoon behind a failed plan to buy a huge tract of land in Iceland has blamed prejudice against China for the rejection of the bid, according to an interview published on Sunday. Iceland on Friday denied a request by property tycoon Huang Nubo to purchase a 300-square-kilometre (200-square-mile) swathe of land in the northern part of the island for a tourist resort. "The denial reflects the unjust and parochial investment environment facing private Chinese enterprises abroad," Huang, founder of property company Zhongkun Group, said in an interview with the official China Daily newspaper. Huang had asked the Iceland government in late August for permission to buy the land for $10 million, with plans to invest about $200 million to build a resort in the Icelandic wilderness. Some Icelandic observers had suggested Huang's purchase could help China get a foothold in the Arctic region for energy resources and shipping, amid predictions the melting ice cap will make oil and gas deposits more accessible. Speaking at his Beijing office on Saturday after learning of the rejection, Huang said the refusal was a loss for Iceland and Chinese investors. He accused Western countries of being unfair by pressing Beijing to further open its markets while at the same time rejecting the advances of Chinese investors. "There are still double standards," he said, adding that foreign countries "encourage the opening of the Chinese market while they close their doors to Chinese investments." In rejecting the request, Iceland's Interior Minister Ogmundur Jonasson said approval would set an unwelcome precedent. "We are talking about a land purchase on such a large scale that if we had agreed to an exemption one could say that the law was null and void and... that anyone who applied for an exemption after this would be allowed to buy, simply because of such a precedent," he said. The refusal was unexpected, coming after Iceland's economic affairs ministry said it was favourable to Huang's plans and recommending the interior ministry approve the request. Icelandic Prime Minister Johanna Sigurdardottir also said she regretted the decision, describing it as based on "a very narrow interpretation of the law", but that it was final and could not be appealed. Since the land is partly owned by the government, approval is required for a non-resident of the European Economic Area to buy it.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china tycoon slams iceland over failed land bid Arab Today, arab today china tycoon slams iceland over failed land bid

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday