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
Elections in the Faroe Islands 4.2%, 1 MP Elections in the Faroe Islands The Faroe Islands elects on national level a legislature. The Faroese Parliament ("Løgtingið in Faroese") has 33 members of parliament, elected for a four-year term by proportional representation. The Faroe Islands have a multi-party system (disputing on independence and unionism as well as left and right), with numerous parties in which a single party normally does not have a chance of gaining power alone, and therefore the parties must work together in order to form a coalition government. JF - 23.4%, 8 MPs<br> FF - 21.6%, 7 MPs<br> SF - 21.2%, 7