UAE to invest up to $50 billion in Canada, targeting AI and energy projects
The United Arab Emirates plans to invest up to $50 billion in Canada under a new cooperation framework that focuses on high-growth sectors including artificial intelligence (AI) and energy, the UAE government announced on Friday.
The announcement followed a meeting between UAE President Sheikh Mohamed bin Zayed Al Nahyan and Canadian Prime Minister Mark Carney at Al Shati Palace in Abu Dhabi on November 20, News.Az reports, citing Reuters.
According to the UAE’s statement, the planned investments will support joint projects across several strategic industries, although specific timelines and project details were not disclosed.
The initiative marks one of the UAE’s largest planned investment commitments to a G7 country and reflects the deepening economic ties between Abu Dhabi and Ottawa. The cooperation is expected to involve both sovereign wealth funds and private-sector partners.
This story is developing as more details are expected to be released.
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