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Atvest is the economic development agency for the Westfjords region of Iceland.  Please feel free to contact us for specific information or questions. 


Atvest is the economic development agency for the Westfjords region in Iceland.  The region is a large peninsula in the north western part of Iceland.   The population is around 7.400 and the largest town is Isafjordur with around 4000 inhabitants.  The main characteristics of the region are high mountains and deep fjords (http://en.wikipedia.org/wiki/Westfjords). 

As an economic development agency it has several responsibilities in the field of economic and socio-economic issues of the region.  

Atvest works closely with municipalities, research institutes, universities, companies and entrepreneurs in its various projects.  Atvest can provide services and consultancy in fields such as:

  • Business planning and analysis
  • Market planning and analysis
  • Financial planning and analysis
  • Econometric analysis of projects
  • Feasibility studies
  • Strategic planning for firms, industry sectors , municipalities and regions
  • Investment  opportunities
  • Funding and financing for projects
  • Project management for development projects

 The services of Atvest are up to certain limits free of charge

The agency is run in accordance to an agreement with the Rural Institute of Iceland Byggdastofnun (www.byggdastofnun.is) to enhance the region’s economy and society.  In that agreement the following goals and purposes are set and Atvest:

  • Participates in and takes an initiative regarding the economic policy of the region.
  • Is proactive regarding the search of new business and investment opportunities for the region.
  • Implements and promotes R&D projects that can increase job creation in the region.
  • Assists firms, individuals, municipalities, organizations and institutions in exploring new business opportunities.
  • Provides business consultancy to firms and individuals, regarding product development, financing, marketing and general management.
  • Initiates, promotes and enhances industry driven cooperation.
  • A contact between technological and support services to industries or agents within the regional economy.
  • Disseminates information regarding technology, management and financing and assists in grant and loan applications
  • Promotes increased professionalism and better management with seminars and conferences.

The services of Atvest are up to certain limits free of charge.

  • Vaxvest: An economic growth agreement that is funded by the Ministry of Industry. It focuses on funding development projects that focus on regional cooperation and strengths. Some of the following projects have been funded through Vaxvest.
  • Seafood cluster: A cluster of the major seafood companies in the region that cooperate on issues and projects that can enhance the sector and the region.
  • Cod farming cluster: 80% of the cod farming in Iceland is based in the region and the farmers cooperate on projects to strengthen the sector.
  • Mussel farming cluster: The region has abundant fjords that are suitable for mussel farming and the farmers work together in this initiative to build up a mussel industry in the Westfjords.
  • Breidarfjardarflettan: Is a sub regional tourism cluster focussing on our strengths regarding the popular Latrabjarg cliffs and the charming southern region of the Westfjords.
  • Vatnavinir: Is a cluster focussing on health tourism and natural hot bathing springs that can be found in the region.
  • Veisla ad Vestan: is a project focussed on promoting the delicious produce of the region and aims at product development of even more treats for the local and tourist market.
  • Westfjords marketing agency: We work with the marketing of the region through the board of the agency.
  • Fraedslumidstod Vestfjarda (FRMST): We work on vocational training and seminars through the board of FRMST.
  • Westfjords university centre: We work on expanding higher education through minor ownership and projects with the local university centre.
  • Lobbyism: In cooperation with our major shareholder,  The Association Of Municipalities Of The Westfjords (FSV) we lobby for better conditions regarding infrastructure and competitive advantage.
  • Economic policy: We consult regional policy makers at the municipal and governmental level on issues regarding economic policies.
  • Entrepreneurs and innovation: We have over 100 clients on an annual basis that require assistance in business start ups, restructuring, marketing, financing, grant application and other general issues.

Atvinnuþróunarfelag Vestfjarða
Arnagata 1-3
400 Isafirdi
Tel: +354 450 3000

Employees and emails:

General manager: Shiran Thorisson

Project manager – Northern region projects: Jon Pall Hreinsson

Office manager – Accounts and general services: Margret Birkisdottir

Project manager – Southern region projects: Magnus Hansson 

Project manager - Southern region projects: Valgeir Ingolfsson

Project manager – Strandir region projects: Viktoria Olafsdottir

Westfjords Cluster Management:

Project manager and manager of Vaxvest– Seafood, Clusters, investment projects, economic growth projects and other general Northern region projects. Manager is Shiran Thorisson