The UAE and Uzbekistan sign a memorandum to develop digital infrastructure
Abu Dhabi, 3 May / WAM / The Ministry of Investment of the UAE and the Ministry of Digital Technology of Uzbekistan have concluded an investment memorandum to enhance investment cooperation in the field of digital infrastructure with a focus on data centers and artificial intelligence projects in Uzbekistan.
The memorandum was signed by His Excellency Muhammad Hassan Al Suwaidi, Minister of Investment, and His Excellency Sherzod Shermatov, Minister of Digital Technology of the Republic of Uzbekistan.
The memorandum aims, according to a statement issued by the Ministry of Investment today, to explore and evaluate joint investment opportunities for new data centers in Uzbekistan, which would provide cloud computing and artificial intelligence solutions to institutions in the government and private sectors, in addition to attracting investors and entrepreneurs in the field of cloud services. To Uzbekistan, assessing the potential of supercomputer projects, exploring the development of language models specific to Uzbekistan, creating an advanced local system for talent in the field of artificial intelligence and computing, as well as enhancing cooperation and joint work between the government and private sectors in the two friendly countries.
His Excellency Mohammed Hassan Al Suwaidi said: “This memorandum is the result of joint cooperation and established relations between the UAE and Uzbekistan, and reflects our commitment to achieving joint economic development in this vital economic field. By enhancing the spread of data centers and artificial intelligence technologies, Uzbekistan will become a global center for digital investments in the region.” Middle Asia”.
For his part, His Excellency Sherzod Shermatov said: “The memorandum represents an important step to transform Uzbekistan into a leading center for information technology, due to the promising investment opportunities it provides for companies based in the UAE. We will work together alongside the UAE to open new horizons for growth, innovation and economic development.” This makes Uzbekistan a major player in the global digital scene, and we are confident that this cooperation will achieve great returns and advance the process of progress and prosperity for both friendly countries.”
The digital market in the Republic of Uzbekistan has witnessed remarkable growth since the adoption of the “Digital Uzbekistan Strategy 2030” in 2020, which laid the foundations for digital transformation over the next decade, as the data center market in Uzbekistan is expected to grow by 9.82% between 2024 and 2028, which will lead The market size will rise to $361.40 million in 2028.
Non-oil trade between the UAE and Uzbekistan witnessed unprecedented growth during the year 2023, reaching $1.9 billion, representing double the volume of trade in 2022, which amounted to $1 billion.
During the year 2022, the UAE is the 17th global trading partner of the Republic of Uzbekistan, and the first in the Arab world, with a trade exchange share of 82% of the volume of Uzbekistan’s trade with Arab countries.
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