Iceland Chamber of Commerce

Video: The Icelandic economy in 60 seconds

Wed, 26 Aug 2026 14:49:00 GMT

In a new short video, the Iceland Chamber of Commerce reviews the state of the Icelandic economy in 60 seconds — inflation, interest rates, unemployment, foreign trade and Iceland's standing in international comparisons.

Increased regulation of the .is national domain needs explanation

Mon, 24 Aug 2026 13:11:00 GMT

Viðskiptaráð believes that the need for the substantial increase in regulation and public oversight being proposed has not been demonstrated in the proposals for changes to the legislation on national domains.

Eighteen exemplary companies recognised for good governance

Fri, 21 Aug 2026 11:59:00 GMT

18 Icelandic companies were awarded the title of Exemplary Company in Good Governance for 2025–2026. The awards are presented by Stjórnvísi, Viðskiptaráð Íslands (the Iceland Chamber of Commerce), Samtök atvinnulífsins (the Confederation of Icelandic Enterprise) and Nasdaq Iceland.

A Supersized Pension System

Thu, 20 Aug 2026 08:00:00 GMT

Birta Karen Tryggvadóttir, an economist in Viðskiptaráð's policy division, discusses Iceland's pension system, one of the strongest in the world. Viðskiptaráð puts forward four proposals for the pension system: reducing the mandatory contribution rate from 15.5% to 12%, having fund members elect boards, abolishing the foreign currency cap, and increasing transparency around costs.

Carbon tariff an undesirable response to a flawed system

Thu, 20 Aug 2026 07:25:00 GMT

Viðskiptaráð points out that CBAM only resolves part of the competitiveness problem that the phase-out of free ETS allowances creates for Icelandic aluminium production, does not level the playing field with markets outside Europe, and raises the question of whether the levy falls within the scope of the EEA Agreement. The government should thoroughly examine Iceland's scope for remaining outside these systems.

State investments need clearer cost-benefit analysis

Wed, 19 Aug 2026 16:05:00 GMT

A clear requirement should be set for cost-benefit analysis of the state's larger investment projects, for options analysis to cover different ways of achieving the same objective, and for the new framework not to increase administration beyond what is warranted by scope and risk. This is among the points made in the consultation response from the Iceland Chamber of Commerce and the Confederation of Icelandic Enterprise on the draft bill on state investments.

New fund does not solve the problem

Wed, 19 Aug 2026 13:14:00 GMT

Viðskiptaráð believes that a new fund does not solve the root of the problem in the media market. RÚV is the only media company in the Nordic countries that both receives public funding and sells advertising. It would be better to correct that distortion than to increase the number of small and inefficient public funds.

Intervention in pricing decisions can reduce competition

Tue, 18 Aug 2026 16:02:00 GMT

Viðskiptaráð believes that an oligopoly does not equate to a lack of competition, and that speculation about tacit collusion requires more robust evidence. Direct intervention in pricing decisions, such as rules governing the frequency of price changes or maximum mark-ups, could reduce competition. It would be more sensible to reduce barriers to entry in the market.

An oversized piggy bank: the scale and agency problem of the pension system

Tue, 18 Aug 2026 06:00:00 GMT

The Icelandic pension system is one of the strongest in the world. Through foresight, Icelanders have managed to build a nearly fully funded system. The sheer scale of the system does, however, bring certain challenges with it. Mandatory saving is higher here than anywhere else, and the pension funds hold large stakes in many of the country's largest companies. Analysis by Viðskiptaráð shows that an agency problem exists, that risk is too heavily concentrated domestically, and that members have limited influence over the funds' decisions. Viðskiptaráð proposes lower mandatory contributions, member democracy, greater risk diversification, and more discipline and transparency around costs.

Minister granted power to ban entire product categories

Wed, 12 Aug 2026 12:44:00 GMT

Viðskiptaráð opposes the passage of the bill on nicotine and tobacco control in its current form. It considers the draft to involve an excessive restriction of the freedom to conduct business, extensive delegation of power to the Minister, an ill-targeted ban on online sales, and conflicts of interest at ÁTVR — and criticises the fact that the impact assessment remains unfinished for the second year running.

R&D support system must be simple and predictable

Mon, 10 Aug 2026 13:05:00 GMT

The Iceland Chamber of Commerce has reviewed the plans for amending the act on support for innovation companies. The Chamber supports, among other things, the plans for a longer validity period for confirmation of research and development projects and for granting Rannís the power to approve applications in part. It warns, however, of the steadily falling approval rate for applications, and emphasises that the support system must rest on clear rules, predictable administration, and consistent implementation that companies can rely on.

The Icelandic Economy 2026

Thu, 06 Aug 2026 05:00:00 GMT

Moderate growth is expected despite persistent inflation and rising unemployment. Export diversification continues to increase, and tourism remains resilient though faced with multiple challenges. This is according to The Icelandic Economy, a newly published report by the Chamber of Commerce on economic developments in Iceland.

Equal operating conditions in primary care a prerequisite for better services

Wed, 05 Aug 2026 15:15:00 GMT

The Iceland Chamber of Commerce reviewed the draft regulation on primary healthcare and supports its objective of levelling the playing field between publicly and privately operated primary care. The Chamber emphasises that the regulation should form part of broader reforms to the operating environment of primary care centres — covering funding, diagnostic services, and oversight — so that competition can contribute to better access and higher quality.

Video: Did you know the state takes up to 80% of the retail price of alcohol?

Thu, 16 Jul 2026 11:22:00 GMT

In a new short video, Lísbet Sigurðardóttir, legal counsel at the Iceland Chamber of Commerce, discusses how heavily alcohol is taxed in Iceland. Public levies and duties can amount to around 80% of the retail price, and she considers whether taxation is the most effective way to improve public health.

Stuck in a long queue: the trunk road network around the capital region

Thu, 16 Jul 2026 05:00:00 GMT

Traffic on trunk roads out of the capital region has grown far beyond the pace at which those roads have been developed. On long 1+1 stretches the slowest vehicle sets the pace, and the delays cost society billions of krónur every year. Benefits could be maximised through 2+2 roads and a 110 km/h speed limit on certain routes, and projects should be prioritised accordingly.

DORA criteria must be clear and predictable

Wed, 15 Jul 2026 15:43:00 GMT

The Iceland Chamber of Commerce raises no objections to the implementation of the EU rules on digital operational resilience in the financial market (DORA). The Chamber emphasises, however, that the designation criteria must be clear and predictable, and that implementation should go no further than the minimum requirements provide for.

Competition is about more than numbers

Thu, 09 Jul 2026 14:59:00 GMT

Lísbet Sigurðardóttir, legal counsel at the Iceland Chamber of Commerce, examines simplistic characterisations of oligopoly and argues that it is important to distinguish between oligopoly and a lack of competition. She also argues that the authorities should look to what they themselves control when it comes to the cost of goods. The objective should not be to maximise the number of companies, but consumer benefit in the form of lower prices, better service, and greater choice.

Warning over added burdens on companies from the energy efficiency directive

Wed, 08 Jul 2026 08:47:00 GMT

The Iceland Chamber of Commerce has reviewed the plans for implementing the EU energy efficiency directive and warns that the legislation will place additional burdens on Icelandic companies. Iceland's particular circumstances — a high share of energy-intensive industry and of renewable energy — mean the directive must not be implemented more onerously than EEA obligations require.

Tariff protection explains high grocery prices

Wed, 01 Jul 2026 05:00:00 GMT

The Iceland Chamber of Commerce has reviewed the Icelandic Competition Authority's discussion paper on grocery prices. High import tariffs — particularly on meat, dairy products, and eggs — play a substantial part in higher prices in Iceland. To bring food prices down, attention must turn to the domestic decisions that shape price formation, including tariff protection, taxes, and operating costs.

Pay Day is today

Sun, 28 Jun 2026 05:00:00 GMT

Pay Day 2026 is today, 28 June. From today, an employee starts working for their take-home pay, whereas from the beginning of the year until now they have been working for taxes, pension rights, and pension savings.