The United Arab Emirates will invest up to $50 billion in Canada, the country said Friday during a visit to Abu Dhabi by Prime Minister Mark Carney.
The fresh North American investment pledge came after UAE President Mohamed bin Zayed Al Nahyan promised in May to pump $1.4 trillion into the U.S. economy over 10 years during a visit by President Donald Trump.
On orders of the Emirati president, his son Abu Dhabi Crown Prince Khaled bin Mohamed bin Zayed “approved the launch of an investment framework between the governments of the UAE and Canada, under which the UAE Government will invest up to US$50 billion in several vital sectors in Canada.”
“Under the terms of the agreement, the UAE will invest in energy, artificial intelligence, logistics, mining and other priority national and strategic industries in Canada, benefiting the peoples of both nations,” said the statement carried by UAE state agency WAM.
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 that same year, according to the statement.
