Director of the Arctic Economic Council (AEC) Mads Qvist Frederiksen , took part in the panel discussion on the geoeconomics of the Arctic Development together with Børge Brende from World Economic Forum, Irina Gayda  from Skolkovo Innovation Centre, Felix Tschudi from Tschudi Shipping Company and Filip Lesta from Nord University and the High North Dialogue conference in Bodø

“We often talk about the Arctic as one region, however, it is important to understand that there is no one Arctic. There is a digital divide. Not all Arctic cities have 5G connection,” said Mr. Frederiksen.

In the panel, the Mr. Frederiksen highlighted the importance of investments in connectivity. Digitalization either through satellites or fibre cables is critical not only for maritime shipping or search and rescue, but also for business and innovation development in the Arctic.

“Before we can move on to expanding data storage centres and introducing artificial intelligence solutions in the Arctic, we need to invest a lot more into digital infrastructure to be able to connect the remote communities,” said Mr. Frederiksen.

In partnership with World Economic Forum, the AEC has developed the Arctic Investment Protocol to guide investors on how to invest sustainably in the Arctic.

“We are positive about upcoming business opportunities in the region. We have resources, we have a proven sustainable track record, and we have the opportunities,” said the AEC chairman Heidar Gudjonsson in a panel on the future scenarios for the Arctic in 2050.


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