Canada And UAE Sign MoU To Enhance Investment Cooperation In Data Centres And AI Projects

The UAE Ministry of Investment and Canada's Department of Industry have formalised a partnership to explore digital infrastructure opportunities. This agreement, signed by Mohamed Hassan Alsuwaidi and Evan Solomon, focuses on data centres and AI projects. It aims to share expertise, foster innovative investments in advanced technology, and support global digital economy growth while promoting sustainable digital transformation.

Both nations are committed to enhancing public-private sector cooperation and exchanging information according to international standards in cybersecurity and data governance. The MoU outlines the formation of joint working groups to coordinate initiatives and ensure the implementation of proposed projects. Confidentiality and intellectual property protection are also emphasised as part of this collaboration framework.

This partnership is a strategic move to bolster economic ties between the UAE and Canada, aligning with the UAE Vision 2031 and its AI Strategy. It aims to expand investments in technological fields, reinforcing both countries' roles as key players in the global digital economy. The collaboration reflects leadership visions focused on innovation, knowledge sharing, and advanced technology.

Mohamed Alsuwaidi expressed that the MoU demonstrates the UAE's dedication to fostering global partnerships that drive innovation, sustainable growth, and digital economy advancement. He highlighted Canada's long-standing relationship with the UAE, noting both countries' positions as innovation hubs poised for a prosperous future. The collaboration seeks to create investment opportunities in sectors like cloud computing and machine learning.

Evan Solomon remarked on the significance of this collaboration in advancing Canada-UAE relations within the digital economy. By leveraging Canada's AI ecosystem alongside the UAE's digital transformation leadership, this partnership aims to build resilient digital infrastructure and promote responsible AI growth across industries in both nations.

The trade volume between the UAE and Canada reached US$2.4 billion in 2024, showcasing strong economic ties. Additionally, the UAE's data centre market is rapidly growing, valued at US$1.26 billion in 2024 with projections reaching US$3.33 billion by 2030. This backdrop highlights the importance of their collaboration in advancing global cooperation within the digital economy.

Commitment to Digital Infrastructure Development

The agreement underscores the UAE's commitment to developing cutting-edge digital infrastructure that incorporates renewable energy sources while expanding cloud capabilities. It promotes safe AI adoption, positioning the nation as a global hub for data-driven growth and a catalyst for worldwide digital transformation.

The MoU serves as a practical step toward deepening economic cooperation in AI and data centres. Both parties believe it will create an attractive investment environment while enhancing their global digital leadership roles, supporting sustainable economic transformation efforts.

With inputs from WAM