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
Faroe Islands "sýslur" (similar to the British "shire": Norðoyar, Eysturoy, Streymoy, Vágar, Sandoy, and Suðuroy). Although today "sýsla" technically means "police district", the term is still commonly used to indicate a geographical region. In earlier times, each "sýsla" had its own assembly, the so-called "várting" ("spring assembly"). The Faroe Islands have been under Norwegian/Danish control since 1388. The 1814 Treaty of Kiel terminated the Danish-Norwegian union, and Norway came under the rule of the King of Sweden, while the Faroe Islands, Iceland, and Greenland remained Danish possessions. From ancient times the Faroe Islands had a parliament ("Løgting"), which was abolished in 1816,