UAE, Kazakhstan sign agreement on investment cooperation in data centre and AI projects

UAE, Kazakhstan sign agreement on investment cooperation in data centre and AI projects

ABU DHABI - The UAE Ministry of Investment has signed a Memorandum of Understanding (MoU) with the Ministry of Digital Development, Innovations, and Aerospace Industry of the Republic of Kazakhstan and the Sovereign Wealth Fund Samruk-Kazyna.

This strategic agreement aims to create a framework for investment cooperation in data centre and artificial intelligence (AI) projects in Kazakhstan.

The MoU was signed by Mohamed Hassan Alsuwaidi, Minister of Investment; Bagdat Mussin, Minister of Digital Development, Innovations, and Aerospace Industry of the Republic of Kazakhstan; and Nurlan Zhakupov, Chairman of the Management Board of Samruk-Kazyna, JSC.

Data centres are essential for organisations to store crucial data and operate applications. Kazakhstan, the largest economy in Central Asia, is witnessing substantial growth in its data centre industry driven by increased demand for computing resources, progressive government policies and AI advancements. The country’s data centre market is projected to grow at a 6.83 percent compound annual growth rate between 2024 and 2028, resulting in a market volume of US$416.7 million.

The MoU between the UAE and Kazakhstan centres on establishing robust and efficient collaboration through the development of bilateral relationships between public and private organisations.

The agreement also proposes introducing incentives to bolster relevant initiatives and seeks to facilitate the