Faroe Islands the economy remains vulnerable. One of the biggest private companies of the Faroe Islands is the salmon farming company Bakkafrost, which is the largest of the four salmon farming companies in the Faroe Islands and the eighth biggest in the world. Petroleum found close to the Faroese area gives hope for deposits in the immediate area, which may provide a basis for sustained economic prosperity. 13% of the Faroe Islands' national income comes as economic aid from Denmark. This corresponds to roughly 5% of GDP. Since 2000, the government has fostered new information technology and business projects to attract new
Education in the Faroe Islands Faroese Research Council that decides its recipients. From 2002 to 2012 the Research Foundation had received over 70 million DKK. Research is conducted by several governmental institutions (i.e. museums, laboratories, hospitals, marine institutes) and the University of the Faroe Islands. Education in the Faroe Islands The levels of education in the Faroe Islands are primary, secondary and higher education. Most institutions are funded by the state; there are few private schools in the country. Education is compulsory for 9 years between the ages of 7 and 16. In the twelfth century education in the Faroe Islands was provided by the