Boosting Digital infrastructure development | signing Memorandum Agreement | By UAE and Uzbekistan

 

The Ministry of Investment of the UAE and the Ministry of Digital Technologies of the Republic of Uzbekistan have signed an investment memorandum, establishing a framework for investment cooperation in digital infrastructure with a focus on data center and artificial intelligence projects in Uzbekistan.

The memorandum was signed by Mohamed Hassan Alsuwaidi, Minister of Investment, and Sherzod Shermatov, Minister of Digital Technologies of the Republic of Uzbekistan.

The memorandum aims to explore and evaluate joint investment opportunities for new data centres in Uzbekistan, which would provide cloud and AI solutions to both private and government entities. Additionally, the agreement seeks to attract major cloud service providers to the country, assess the potential for super-computer projects, explore the development of language models specific to Uzbekistan, and establish a local talent ecosystem for AI and computing, apart from facilitating strong and effective collaboration between the public and private sectors in the two nations.

Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, said: “This agreement builds on the good relationship between our two countries. It shows that we are committed to working together in important business areas to benefit both nations. Developing more data centers and artificial intelligence in Uzbekistan will help it become a more popular place for digital business investments in Central Asia.”

Sherzod Shermatov, Minister of Digital Technologies of Uzbekistan, commented: "I am honoured to sign this memorandum with the Ministry of Investment of the UAE, its a sinificant milestone in both nations efforts to transform Uzbekistan into IT Hub. This partnership presents rare investment opportunities for UAE-based companies into Uzbekistan's vast potential, Uzbekistan is located in a strategic place and has a good environment for business. By working together, our countries will open up new possibilities for increasing business, trying new ideas, and improving our economies. This partnership will help Uzbekistan become an important player in technology on the world stage.

I believe this cooperation between our nations will lead to great benefits. It will help our economies grow and drive development and prosperity for many years to come."

In 2023, trade between the UAE and Uzbekistan that did not involve oil increased to $1.9 billion US dollars. This was double the amount from 2022 which was $1 billion US dollars. It was over three times more than the past year. The UAE become one of Uzbekistan’s 17th biggest  trading partner worldwide in 2022, other Arab countries going beyond auditing for 82 percent of Uzbekistan’s trade with the Arab world.