The Ministry of Investment of the UAE and the Ministry of Digital Technologies of Uzbekistan have signed an investment memorandum to boost digital infrastructure development in Uzbekistan. The focus will be on data center and artificial intelligence projects in the country.
Uzbekistan has seen significant growth in its digital market since adopting the Digital Uzbekistan – 2030 strategy in 2020. The data center market is expected to grow by 9.82 percent between 2024 and 2028, with a market volume of US$ 361.40 million in 2028.
The memorandum aims to explore joint investment opportunities for new data centers in Uzbekistan, providing cloud and AI solutions to private and government entities. It also seeks to attract major cloud service providers, assess super-computer projects, develop language models specific to Uzbekistan, and establish a talent ecosystem for AI and computing.
Minister of Investment of the UAE, Mohamed Hassan Alsuwaidi, highlighted the strong relations between the two nations and the opportunities for expanding data centers and AI capabilities in Uzbekistan. Minister of Digital Technologies of Uzbekistan, Sherzod Shermatov, expressed confidence in the partnership’s ability to drive growth, innovation, and economic development in Uzbekistan.
The UAE and Uzbekistan have seen a significant increase in non-oil trade, reaching US$ 1.9 billion in 2023. The UAE is now Uzbekistan’s 17th largest trading partner globally, accounting for 82 percent of Uzbekistan’s trade with the Arab world.
The Ministry of Investment of the UAE, established in July 2023, aims to accelerate foreign direct investment into the country and strengthen the UAE’s position as a leading global investor.
Frequently Asked Questions (FAQs) Related to the Above News
What is the focus of the investment memorandum signed between the UAE and Uzbekistan?
The focus of the investment memorandum is on boosting digital infrastructure development in Uzbekistan, with a specific emphasis on data center and artificial intelligence projects.
What growth has Uzbekistan seen in its digital market since adopting the Digital Uzbekistan - 2030 strategy?
Uzbekistan has seen significant growth in its digital market, with the data center market expected to grow by 9.82 percent between 2024 and 2028, reaching a market volume of US$ 361.40 million in 2028.
What are some of the key goals of the investment memorandum between the UAE and Uzbekistan?
Some of the key goals include exploring joint investment opportunities for new data centers, providing cloud and AI solutions to private and government entities, attracting major cloud service providers, assessing super-computer projects, developing language models specific to Uzbekistan, and establishing a talent ecosystem for AI and computing.
How has the UAE-Uzbekistan trade relationship evolved in recent years?
The non-oil trade between the UAE and Uzbekistan has increased significantly, reaching US$ 1.9 billion in 2023. The UAE is now Uzbekistan's 17th largest trading partner globally, accounting for 82 percent of Uzbekistan's trade with the Arab world.
What is the purpose of the Ministry of Investment of the UAE?
The Ministry of Investment of the UAE, established in July 2023, aims to accelerate foreign direct investment into the country and strengthen the UAE's position as a leading global investor.
Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.
