UAE to invest up to $50 billion in Canada's AI, energy sectors

Under the directives of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has approved the launch of an investment framework between the governments of the UAE and Canada, under which the UAE Government will invest up to $50 billion in several vital sectors in Canada. 

Also in attendance during the launch were the Right Honourable Mark Carney, Prime Minister of Canada, and Mohamed Hassan Alsuwaidi, Minister of Investment, alongside senior officials from both friendly countries. 

Under the terms of the agreement, the UAE will invest in energy, artificial intelligence, logistics, mining and other priority national and strategic industries in Canada, benefiting the peoples of both nations. 

This investment framework underscores the UAE’s commitment to enhancing its long-standing strategic partnership with Canada, as well as the shared ambition of both countries to broaden avenues of economic cooperation and enable high-value investment flows, reflecting the UAE’s status as a leading global investor in developed markets. 

Foreign direct investment stock from the UAE in Canada stood at US$8.8 billion in 2024, while Canadian direct investment stock in the UAE totalled $242 million in the same year. 

WAM