Today we are going to learn more about Norway as a country.
1) Norway population is around 5.2 million. To put it in context, Jabodetabek alone consists of 28 million people.
2) Norway is granted with oil since 1970s. Statoil as Norway state owned company and other oil and gas companies start drilling and producing oil since then. To prosper 5.2 million people is not that hard with abundant oil, so Norway start saving a lot of capital, excess state budget.
3) to get clear understanding, Statoil (now named Equinor) revenue in 2017 is $45 billion, while Indonesia Pertamina is around $36 billion
4) that excess money is collected by government to form Norway Wealth Fund, managed by Norges Bank Investment Management. Currently NBIM manage $1 trillion money 66% invested in equities ( stock market) all around the world for 9000 companies, 30% in fixed income investment (government bond, etc), 3% in real estate
5) the goal of Norway sovereign wealth fund is to ensure Norway today and future generation. We can learn a lot from Norway to form wealth fund if we have excess money from our government state budget. one initial step to reach that level has been seen with LPDP to allocate $2.3 billion for education scholarship, research, and other responsible investing practice.
Not only about prosperity, we can also learn from Norway as one of happiest country in the world. World Happiness Report by Sustainable Development Solutions Network for the United Nations consistently rank Norway as one of happiest country in the world. This year Norway ranks 2nd. I personally set my goal to learn more from Norway by visiting it next year, also there is Katapult Future Festival 2019 to be held in Oslo. Look forward to it!