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Plans for Greenland’s Development
The new government wants to build a more sustainable economy before pursuing independence.
Greenland’s newly elected parliament has formed a coalition government that prioritizes business development and eventual independence, though parties differ on the timeline. As an autonomous territory, Greenland can call an independence referendum at any time. However, it remains part of Denmark, relying on Copenhagen for economic support – about $600 million annually in subsidies – and national defense.
Greenland’s primary focus is building a sustainable economy before pursuing independence. The development of critical minerals and rare earth elements could transform its economic landscape and reshape its ties with Denmark and the United States. Rich deposits, combined with favorable geography, enable efficient maritime exports and access to key trade routes. Investors are eager to capitalize on these resources, particularly along Greenland’s western coast, but large-scale infrastructure investments will be necessary.
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