UAE and Kazakhstan sign agreement on investment cooperation in data center and artificial intelligence projects

UAE and Kazakhstan sign agreement on investment cooperation in data center and artificial intelligence projects

Abu Dhabi, UAE:– The Ministry of Investment of the UAE has signed a Memorandum of Understanding (MoU) with the Ministry of Digital Development, Innovations, and Aerospace Industry of the Republic of Kazakhstan as well as Sovereign Wealth Fund Samruk-Kazyna. This strategic agreement aims to create a framework for investment cooperation in data center and artificial intelligence (AI) projects in Kazakhstan.

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

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

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