This report Future Opportunities for Bioeconomy in the West Nordic Region provides an overview of bioresources in the West Nordic region focusing on Iceland, the Faroe Islands and Greenland, their utilisation and future opportunities based on green growth. The report provides good basis for strategic identification of beneficial projects in the region. Based on the results, a specific action plan has been formed consisting of four main actions: 1. Create a West Nordic Bioeconomy panel, 2. Establish an interdisciplinary Centre of Excellence (CoE) for the West Nordic region, 3. Focus on Arctic bioeconomy II – a project centered on opportunities in biotechnology, and 4. Focus on the program, “The Blue Bioeconomy”.