UAE will invest in the construction of data centers in Kazakhstan

On January 12, 2024, a Memorandum of Understanding was signed in Abu Dhabi between the Ministry of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan, Samruk-Kazyna National Welfare Fund JSC and the UAE Ministry of Investment in order to create a basis for investment cooperation in data center construction projects in Kazakhstan.
The document was signed by B.Mussin, Minister of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan, N.Zhakupov, Chairman of the Board of Samruk-Kazyna JSC, and M.Al-Suwaydi, Minister of Investment of the UAE.
According to M. al-Suwaidi, "the signing of the Memorandum reflects the UAE's commitment to further strengthen relations with Kazakhstan."
In turn, N.Zhakupov noted that "the creation and development of data processing centers is crucial for the technological development of Kazakhstan. They serve as the basis for innovation and contribute to the economic development of the country."
In the first 9 months of 2023, the gross inflow of direct investments from the UAE amounted to $494.1 million.