Iceland Chamber of Commerce

Broader permission to sell over-the-counter medicines would be a positive step

Tue, 10 Nov 2026 10:30:00 GMT

Viðskiptaráð supports a bill permitting the sale of over-the-counter medicines outside pharmacies, which it believes would increase competition, improve consumer access and strengthen retail in rural areas. It also proposes reviewing pharmacy staffing requirements and price controls on prescription medicines.

Implementation of market surveillance rules should go no further than necessary

Tue, 10 Nov 2026 10:20:00 GMT

Viðskiptaráð stresses that the implementation of the EU regulation on market surveillance should go no further than its minimum requirements. It proposes removing the optional power to recover the costs of surveillance and limiting administrative fines to intentional breaches. The bill’s impact on business should also be fully assessed and companies given sufficient time to adapt.

Ten years of standstill in energy

Mon, 09 Nov 2026 09:30:00 GMT

“The standstill of the past ten years is not a law of nature. It is the result of a system in which it takes years and decades to bring new power plants into operation.”

The child grows, but the book does not

Fri, 06 Nov 2026 12:00:00 GMT

The state supplies schools with teaching materials free of charge, which creates an uneven playing field and makes it almost impossible for private publishers to gain a foothold in the market. Iceland is the only Nordic country with centralised publishing of teaching materials. Funding for the development of teaching materials is now about a third of what it was in 2007. Viðskiptaráð proposes that all funding for the purchase of teaching materials be channelled through the Teaching Materials Fund and that schools choose their own materials on the open market.

Power on the map: the path to doubling electricity generation

Fri, 30 Oct 2026 13:00:00 GMT

Mapped power project options could multiply Iceland’s electricity generation, yet output has stood still since 2017. The Master Plan, multiple avenues of appeal and a weak transmission system mean that it takes decades to bring a new power plant into operation. Viðskiptaráð proposes abolishing the Master Plan and more than doubling electricity generation by 2040.

Rent caps undermine tenants’ housing security

Fri, 23 Oct 2026 14:00:00 GMT

Viðskiptaráð opposes a bill imposing further restrictions on rent increases during the lease term. A review of 112 peer-reviewed studies shows that such restrictions reduce the supply, quality and utilisation of rental housing, and they can also fuel inflation through higher initial rents and shorter leases. The best way to strengthen the position of tenants is to ensure an adequate supply of housing.

Full house at the launch of the new Guidelines on Corporate Governance

Fri, 23 Oct 2026 10:35:00 GMT

More than 180 people attended the launch of the seventh edition of the Guidelines on Corporate Governance at Háteigur, Grand Hótel, on 21 October. The new edition was presented in print and a new website, leidbeiningar.is, was opened.

New edition of the Guidelines on Corporate Governance

Fri, 23 Oct 2026 10:20:00 GMT

The seventh edition of the Guidelines on Corporate Governance has been published. Alongside it, a new and improved website, leidbeiningar.is, has been launched. The emphasis was on simplifying the guidelines and clarifying their presentation rather than adding recommendations. The new edition takes effect on 1 January 2027.

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.