Huang Nubo (c) PHOTO: FRANS SCHELLEKENS

Ever since the news broke that Chines tycoon Huang Nubo planned to buy a part of Iceland, almost every article in the international press raised doubts about the real intentions of Mr. Huang. Why does he need 300 square kilometers of land to build an ecological luxury resort?

According to world media, surely, there must be other motives than the stated resort plans. Especially since Huang in the past worked at the propaganda department in China. Although he already quit a long time ago in China for a lot of people that doesn’t change a thing. One is  still considered to be a puppet on a string, controlled by ‘Beijing’.

And as China is scavenging the world for resources, whether it be in Australia, Asia or Africa, Iceland is no difference, right? Let’s face it, 300 square kilometers for just a resort? Huang may say he has no hidden agenda, but what if in the future the Arctic waters open up and he decides to build a strategic shipping port in Iceland? Wouldn’t that be something to be worried about?

I’m also part of the international media, but call me naive or even stupid, I really don’t understand why so many media outlets chose to write these kind of assumptions without providing any backing for it. I for one certainly don’t buy into the argument that Huang’s plans are not what it seems: just his way of investing money he has earned in the past with his real estate company Zhongkun in China.

And here’s why:

What I’ve been told by a Zhongkun representative is that Huang wanted to buy a farm in Iceland to transform it into a resort. This farm was officially for sale, but was only for sale including the 300 square kilometers of land. It could not be separately bought. This ‘forced’ Huang to buy the whole lot, even though about 99% of this well reported 300 square kilometers is not useable, because it is either solid stone rock or water. Beautiful stone rock and water, yes, but not something to easily turn into something like a strategic bridgehead for the Chinese, let alone the legislation issues that would require.

But even if you chose to don’t believe this explanation….

The area Huang is trying to buy is not even near to a coastline, so why are a lot of the reports speculating about turning his resort into a strategic Chinese shipping hub in the future?

Furthermore, Huang has a long personal history connecting him to Iceland, which to me at least makes his plan more of personal passion than Chinese strategic asset buying. This man climbed the seven highest mountains on this planet and reached both poles. I cannot verify, but according to himself, only 16 men ever achieved the same before him.

All in all, to me this is just the story of a Chinese millionaire/billionaire adventurer who has a proven passion for the outdoors and wildlife and is running a company since 1995 that’s involved in exclusive leisure and real estate activities. So the whole venture in Iceland perfectly fits the strategy of his company and himself.

Now, I’m not saying that his plan is not without risk or that the whole venture should not be handled carefully, but I don’t understand why so many media beforehand raise so many suspicions based on so little facts that support these kind of fears.

Yes, China is opportunistically buying resources all over the world, which has raised concerns in the west, but sometimes an investment by a rich Chinese in another country is just that: an investment by a rich Chinese in another country.

I know it’s hard, but the West better get used to it… There is an increasing number of Chinese getting extremely rich and they will spend their money. In China, but also in the rest of the world.

Read my profile on Huang Nubo here (in Dutch)