The UAE and Malaysia are strengthening investment cooperation in the digital infrastructure field.
The two countries signed a Memorandum of Understanding (MoU) with a special focus on data center development in Malaysia.
It also aims to foster the exchange of knowledge and expertise and strengthen ties between the public and private sectors of both countries.
The agreement was signed by Mohammed Hassan Al Suwaidi, UAE Minister of Investment, and Malaysian Minister of Investment, Trade and Industry Tengku Zafrul Aziz.
Data centers are essential for organizations to store critical data and operate applications.
Malaysia currently operates more than 40 data centers, and the sector is expected to grow at an annual growth rate of nearly 16% from 2022 to 2027, reaching $2.9 billion by the end of the five-year period.
The signing of the MoU is underpinned by the strong trade relationship between the UAE and Malaysia, with non-oil trade valued at over $2.22 billion in the first half of 2023.
The UAE is currently Malaysia’s second largest trading partner in the Middle East, accounting for 32% of total trade with Arab countries, while Malaysia ranks 8th among non-Arab Asian countries in exports to the UAE. , it ranks 19th in terms of exports. export.
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