The United Arab Emirates said on Friday that it will invest up to US$50 billion (RM207.24 billion) in Canada under a framework that includes projects in artificial intelligence (AI), energy, and mining sectors.
The UAE has been looking to expand its energy investments abroad, especially through its recently launched firm XRG, the foreign investment arm of Abu Dhabi’s oil major, ADNOC.
Abu Dhabi is also investing heavily in AI, with plans to build one of the world’s largest data centre hubs in the country with US technology.
Emirati state-linked tech firm G42 is driving the development of its AI industry.
The signing of the framework came at the sidelines of a visit by Canada’s Prime Minister Mark Carney to Abu Dhabi, the UAE investment ministry said in a statement.
Source: Theedgemalaysia