Though Oslo lags behind Scandinavian rivals Stockholm and Copenhagen when it comes to attracting FDI, the Norwegian capital's commissioner for culture and business is confident that the combination of a diversifying of its economy, the formation of a new investment promotion agency, and the city's high quality of life will see the gap narrowed.

The world's economic balance is shifting, and sovereign wealth funds are starting to cut their exposure to developed economies and head towards emerging markets. But facing challenges such as limited availability of 'free-float' equity, the move does not come without risk.