The United Arab Emirates announced plans to invest up to $50 billion in Canada, targeting artificial intelligence, energy, and mining projects. The agreement was signed during Canadian Prime Minister Mark Carney’s visit to Abu Dhabi. The UAE said the deal aims to strengthen economic and technological collaboration between the two countries.
The investment framework involves UAE energy giant ADNOC’s foreign investment arm, XRG, which seeks to expand energy projects abroad. Officials said the deal also includes significant funding for Canadian mining initiatives, supporting sustainable and strategic resource development.
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Abu Dhabi is investing heavily in artificial intelligence, with plans to build one of the world’s largest AI data center hubs using U.S. technology. Emirati tech firm G42 will lead the development of AI projects under this framework.
The UAE ministry said the framework reflects the countries’ shared commitment to innovation, economic diversification, and long-term strategic partnerships. Officials highlighted that Canada provides a stable and attractive environment for high-tech and energy investments.
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This initiative marks a major step in UAE-Canada ties, with billions of dollars directed toward advanced technologies and energy infrastructure. Both countries aim to leverage the investment to create jobs, boost trade, and foster technological growth.