The Ministry of Investment signs a cooperation agreement with Canada to develop data centers and artificial intelligence projects
Abu Dhabi, October 15 / WAM / The Ministry of Investment signed a memorandum of understanding with the Canadian Ministry of Industry to explore cooperation opportunities in the digital infrastructure sector, with a particular focus on the development of data centers and artificial intelligence projects.
The memorandum was signed by His Excellency Mohammed Hassan Al Suwaidi, Minister of Investment, and His Excellency Evan Solomon, Minister of Artificial Intelligence and Digital Innovation, Minister Responsible for the Federal Economic Development Agency for Southern Ontario in Canada.
The memorandum aims to exchange expertise and technical knowledge, and support the establishment of innovative investment projects in the fields of modern technology, thus contributing to stimulating the global digital economy and enabling sustainable digital transformation.
It also seeks to enhance cooperation between the public and private sectors in the two countries, and facilitate the exchange of information and data in accordance with best international practices and standards in the field of cybersecurity and data governance.
The memorandum also includes mechanisms for forming joint working teams to coordinate initiatives and follow up on the implementation of proposed projects, in addition to the commitment of both parties to confidentiality and protection of intellectual property within the framework of cooperation.
It is expected that this partnership will contribute to expanding the scope of bilateral investments in technical and innovative fields, and strengthening the position of the two countries as major hubs in the global digital economy system.
This cooperation comes within the framework of strengthening bilateral economic relations between the UAE and Canada, and represents a strategic platform to support future investments in emerging technologies, in line with the UAE Vision 2031 and its national strategy for artificial intelligence.
The two sides stressed that this cooperation reflects the vision of the leadership of the two countries in strengthening strategic partnerships based on innovation, knowledge and advanced technology, and represents a practical step towards consolidating economic and technical cooperation in the fields of artificial intelligence and data centers.
The two sides indicated that this memorandum will contribute to developing an attractive investment environment and enhancing the digital leadership of the UAE and Canada at the international level, in a way that supports sustainable economic transformation.
His Excellency Mohammed Hassan Al Suwaidi said that this memorandum reflects the UAE’s commitment to strengthening global partnerships that accelerate innovation, drive sustainable growth, and support the digital economy, noting that Canada is a long-term partner of the UAE. As global centers for innovation, trade and investment, the two countries have the necessary ingredients to build a more prosperous and developed future.
He expressed his aspiration, through this cooperation, to provide new investment opportunities in high-growth sectors such as cloud computing, machine learning and data analysis, which will pave the way for further development and prosperity in the future.
For his part, His Excellency Ivan Solomon said that cooperation with the Ministry of Investment constitutes an important stage in the process of cooperation between Canada and the UAE in the field of the digital economy, pointing out that by benefiting from the advanced artificial intelligence system in Canada on the one hand and the UAE’s leadership in the field of digital transformation on the other hand, this partnership contributes to establishing a solid digital infrastructure and advancing the responsible growth of artificial intelligence for the benefit. On industries, companies and communities in both countries.
It is noteworthy that the volume of trade exchange between the UAE and Canada reached 2.4 billion US dollars in 2024, which confirms the strength of the economic relations between the two countries.
The data center market in the UAE stands out as one of the fastest growing markets in the region, with its value estimated at approximately US$1.26 billion in 2024, and is expected to reach US$3.33 billion by 2030.
In this context, cooperation between the UAE Ministry of Investment and the Canadian Ministry of Industry constitutes a pivotal step in enhancing global cooperation in the field of the digital economy.
The MoU supports the UAE’s commitment to developing an advanced digital infrastructure that integrates renewable energy into its operations, contributes to expanding cloud services capabilities, and encourages the safe and responsible adoption of artificial intelligence technologies, which strengthens the country’s position as a global center for data-driven growth and a major driver of digital transformation worldwide.
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