2023 03 17

Staticus’ CEO Aušra Vankevičiūtė shares insights on Norwegian construction sector

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Staticus’ CEO, Aušra Vankevičiūtė, shared her insights and perspectives at an event for construction industry members in Norway. The event, titled Norwegian construction market 2023: Should we prepare for a soft landing? was held on March 10th at the DNB headquarters in Oslo. Aušra’s talk covered a range of topics, including the trend towards renovation and away from new builds, challenges the sector is currently facing, and Staticus’ use of R&D and smarter work processes to address these challenges.

The event was organised by the Lithuanian Embassy in Norway, in association with the Polish Embassy in Norway, the Polish Investment and Trade Agency, and with partner DNB, and brought together key construction industry figures from Poland, Lithuania and Norway. The goal was to facilitate a discussion of the main challenges and opportunities facing the Norwegian construction market in 2023, and to align the requirements of Norwegian companies with the supply capabilities of their Lithuanian and Polish partners.

Aušra’s talk focused on the changing demands and challenges of the construction sector, and how Staticus is responding. One key point she emphasised is the significant increase in the number of renovation projects compared to new buildings, a trend she believes is set to continue. She also addressed three significant challenges facing Norway’s construction sector: uncertainty, interest rates and currency issues. Finally, she defined how Staticus is responding to these challenges. She explained how Staticus’ revenue streams are changing, with a focus on securing more high value projects rather than simply a higher volume of projects. She also gave an overview of Staticus’ R&D activities and working methods, pointing out that these approaches are helping to mitigate risks caused by uncertainty. 

Aušra then participated in a panel discussion that covered two critically important topics:

  • The future for construction companies from a short and mid-term perspective;
  • And the importance of sustainability for companies working with Norwegian partners.

The event was attended by a wide range of leaders. The Lithuanian and Polish ambassadors to Norway opened the event, followed by senior economists from DNB. Then representatives from key Norwegian players such as Veidekke and Statsbygg presented the Norwegian perspective, before a number of major Polish and Lithuanian suppliers explained their situation and needs. 

Overall, the event was a successful way to share perspectives on the Norwegian construction sector, and find ways to match the needs of Norwegian developers with the capabilities of suppliers from Lithuania and Poland.

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