DUBAI : According to the UAE Ministry of Investment, the framework agreement was signed on the sidelines of Canadian Prime Minister Mark Carney’s visit to Abu Dhabi, underscoring the deepening strategic and economic ties between both nations.
The move aligns with the UAE’s global investment agenda, particularly through XRG, the newly launched foreign investment arm of Abu Dhabi National Oil Company (ADNOC).
Beyond energy, the UAE is accelerating its ambition to become a global AI powerhouse. Emirati tech champion G42 continues to drive large-scale AI development, while Abu Dhabi moves forward with plans to establish one of the world’s largest data-center hubs, supported by advanced U.S. technology.
Officials said the $50 billion commitment reflects the UAE’s intent to build “next-generation economic partnerships” and strengthen cooperation in future-focused sectors.
In a significant economic development, the UAE is set to invest $50 billion in Canada, targeting key sectors like AI, energy, and mining. This initiative, coinciding with Canadian Prime Minister Mark Carney's visit, underscores the growing strategic partnership between the two nations and supports the UAE's ambition to lead in AI and data-center development.