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

The UAE will invest up to $50 billion in Canada under a framework that includes projects in artificial intelligence, energy and mining sectors.

The framework was approved by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, under the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan.

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.

Under the agreement, the UAE will invest in energy, artificial intelligence, logistics, mining and other key industries in Canada, Abu Dhabi Media office announced.

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