I grew up in Isafjordur, capital of the Westfjords. I have raised my children here, built businesses, participated in politics and sports before I took the role of CEO of Arctic Fish. My connection to the Westfjords is therefore not just professional but first and foremost personal.

For many years, our region experienced a gradual decline. Modernisation of the fisheries brought efficiency, but also fewer jobs. Processing became automated. Fewer hands were needed. Young people left. Housing prices stagnated. Municipal revenues weakened.

Salmon farming in the ocean is among the protein productions with the lowest CO₂ footprints available.

Iceland’s natural environment is particularly well suited for this industry, and there remains significant potential for sustainable growth. The strong currents in the fjords where aquaculture is permitted highlight the conditions that can support such development.

Iceland has the natural conditions to become a global leader in land-based aquaculture. With renewable electricity, abundant geothermal heat, pristine freshwater and seawater, and efficient transport links to major markets, Iceland enjoys a structural competitive advantage. Properly developed, land-based salmon farming can become a significant value-adding industry—generating foreign revenue, strengthening regional communities, and creating high-quality jobs across multiple sectors.

Vigdís Häsler, project manager at IAOF, reflects on quality of life, regional development, and the need for predictable frameworks for sustainable aquaculture in an article published in Morgunblaðið.

“Who wants to live here?!” my traveling companion sighed as we stepped off the coach in Þórshöfn on Langanes during one of my many trips around the country. A local man greeted us and explained what was happening in the municipality.

Vigdís Ósk Häsler Sveinsdóttir, attorney-at-law, has been appointed Project Manager at the Icelandic Aquaculture and Ocean Forum (IAOF). In her new role, Vigdís will oversee communications with domestic and international partners and lead the development of new initiatives related to innovation, sustainability, and value creation in aquaculture and other ocean-based industries.

Fitch Ratings has recently revised Iceland’s credit outlook to positive, highlighting increased economic diversification driven by high-value sectors such as pharmaceuticals, ICT, biotechnology – and notably, aquaculture.

The World Bank’s new report "Harnessing the Waters" highlights aquaculture as a key solution to global food security, rising protein demand, and the need for low-emission food systems. With nearly 60% of the world’s seafood now coming from aquaculture, the sector is no longer niche — it’s essential.

Hanna Katrín Friðriksson, Minister of Labour and Industry, visited , First Water, the Land-based aquaculture company last week, as the company has now put into operation its first 25 meter grow-out tanks at its facility in Þorlákshöfn.

Arnarlax, a subsidiary of Icelandic Salmon, posted a loss in the second quarter of 2025, citing high costs and increased mortality as key challenges to operations. However, revenues rose sharply year-on-year, and the company expects improved results when a new generation of salmon enters production in the autumn months.