China Tycoon Slams Iceland Over Failed Land Bid

A Chinese businessman says prejudice against Chinese is to blame for the Iceland government’s rejection of his offer to buy a huge piece of in northern Iceland in order to build a tourist resort. From AFP:

Iceland on Friday denied a request by property tycoon Huang Nubo to purchase a 300-square-kilometre (200-square-mile) swathe of land in the northern part of the island for a tourist resort.

“The denial reflects the unjust and parochial investment facing private Chinese enterprises abroad,” Huang, founder of property Zhongkun Group, said in an with the official China Daily newspaper.

Huang had asked the Iceland government in late August for permission to buy the land for $10 million, with plans to invest about $200 million to build a resort in the Icelandic wilderness.

Some Icelandic observers had suggested Huang’s purchase could help China get a foothold in the Arctic for energy resources and shipping, amid predictions the melting ice cap will make and gas deposits more accessible.

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