Speaking for Iceland, we have changed a lot toward the better in the last fifteen years. There are a few things that we have done.
We have privatized a lot of companies, especially the financials, the banks, and so on and so forth. They used to be subsidized not that many years ago. Now they are at least medium-sized companies in international competition. There are two Icelandic banks now investing and opening up branches in Canada as we speak.
We also have lowered taxes, both on companies and individuals.
Of course, we emphasize a lot, through EFTA, on free trade.
We also invest in education and the health sector. We opened up to competition in the education system without breaking any rules.
We are paying most of the bills from the government because we think it's very important that everyone has a chance to establish themselves in our country.
In brief, this is how we did it.