GE CEO: Geopolitical uncertainty is affecting businesses and the investment environment

The US president's repeated statements that he will take over Greenland may negatively impact the business community.

– There is a need for stability and diplomacy. Uncertainty and unrest are poison for the investment environment, says Director of Greenland Business, Christian Keldsen, who describes the disrespectful rhetoric from the American president as irritating, because the starting point is that there are all the prerequisites for a good cooperation climate between Greenland and the USA, which is also evident from Naalakkersuisut's Arctic strategy from 2024.

– There are good framework conditions and prerequisites for trade with the USA, and it therefore seems completely unnecessary for the American side to use words like annexation and takeover of Greenland.

Development of the country

The Arctic strategy of Naalakkersuisut states, among other things, that Greenland has wanted to develop relations with the United States for many years, and that it will work to create direct trade and transport routes between Greenland and the United States. Greenland would also like to develop cooperation with states in the United States, including Alaska and the northern east coast of the United States. And it would like to work to ensure that the Defense Agreement from 1951 is expanded to include Greenland as a party and for the greater benefit of Greenland.

– The current American rhetoric does not change the fact that we continue to focus on developing Greenland and running our businesses, says Christian Keldsen.

Cancellations

Tour companies have recently experienced some cancellations, but conversely, hotels and restaurants are also experiencing increased interest from journalists and media people who have taken the trip to Greenland at a time of year when there are not normally so many guests in the country.

According to Christian Keldsen, there are also some employers who cite the US situation as the reason why it is difficult to recruit employees. Investment appetite is falling According to the director, the big challenge is that investment appetite is falling as the unrest surrounding Greenland increases.

– Everything we could possibly imagine going forward is based on investments, and something like what is happening now is not good for investment appetite.

American investments

Paradoxically, Greenland has worked hard in recent years to attract American investments.

– Right now it is relevant to question everything that comes from the USA, but one must remember that the USA has been a good friend of Greenland for many years. The Greenland Government has worked very hard to attract the USA here, and in many contexts efforts have been made to attract investments and partners from the USA. The fact that we are seeing American investments now cannot only be directly linked to the current situation, but is also an expression of the result of long-term efforts.

Our strength lies in our alliances

According to Christian Keldsen, our politicians also have a responsibility to stand together and clearly show that there is no doubt about Greenland's alliances with Denmark and the EU.

– This talk about standing together should also be about showing that there is no doubt about our alliances. We are not an economic or military superpower, so our strength lies in our alliances with Denmark and the EU. Greenland is in the USA's backyard, and there is probably no doubt that our natural desire for independence can be experienced as a potential uncertainty for the USA in relation to who else might show interest in Greenland. We must be aware of that, and there is still a lot that we can influence with our behavior and communication, says Christian Keldsen.