The Ministry of Investment has signed a memorandum of understanding with the Canadian Ministry of Industry to explore collaboration opportunities in the digital infrastructure sector, with a particular focus on developing data centers and artificial intelligence projects.
The agreement was signed by His Excellency Mohammed Hassan Al Suwaidi, the Minister of Investment, and Ivan Solomon, the Minister of Artificial Intelligence and Digital Innovation, who is responsible for the Federal Economic Development Agency for Southern Ontario in Canada.
The purpose of this memorandum is to facilitate the exchange of expertise and technical knowledge, support the establishment of innovative investment projects in modern technology fields, and contribute to stimulating the global digital economy while enabling sustainable digital transformation.
Additionally, the memorandum aims to strengthen cooperation between the public and private sectors in both nations, making it easier to exchange information and data in accordance with international best practices and standards in cybersecurity and data governance.
Mohammed Al Suwaidi stated, “This memorandum reflects the UAE’s commitment to enhancing global partnerships that accelerate innovation, drive sustainable growth, and support the digital economy.”
Canada is a long-term partner of the UAE; both countries, serving as global hubs for innovation, trade, and investment, possess the necessary attributes to build a more prosperous and advanced future.
Through this collaboration, we aspire to create new investment opportunities in high-growth sectors such as cloud computing, machine learning, and data analytics, paving the way for further development and prosperity in the future.
In 2024, the trade exchange between the UAE and Canada reached $2.4 billion.