Signing of the Memorandum of Understanding set against the backdrop of deepening bilateral ties between the two nations
Abu Dhabi, UAE – The Ministry of Investment of the UAE and the Ministry of Digital Development and Transport of the Republic of Azerbaijan have signed a Memorandum of Understanding (MoU) aimed at strengthening the digital infrastructure in Azerbaijan with a focus on the development of data centers.
The MoU was signed by His Excellency Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, and Rashad Nabiyev, Minister of Digital Development and Transport of the Republic of Azerbaijan.
Data centers are crucial to a country’s digital infrastructure as they provide a secure space for storing critical data and running applications.
In recent years, Azerbaijan has taken steps towards advancing the digital economy, among else through the centralization of e-services and the digitization of public services. The government’s social and economic strategy also features digital transformation as one of its priority areas.
Through the MoU with the UAE, the number of data centers in Azerbaijan is expected to rise significantly.
To ensure close and impactful collaboration, a key aspect of the agreement is building relationships among public and private sector organizations in the UAE and Azerbaijan. The MoU also suggests the introduction of incentives for relevant initiatives and will facilitate knowledge sharing.
H.E. Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, said: “This agreement underscores the shared commitment of our two countries to enhance bilateral cooperation with a focus on mutually beneficial initiatives. As a nation dedicated to creating value for its partners, the UAE continues to explore and leverage opportunities to promote the advancement of sectors that shape a prosperous future for generations to come.”
The UAE and the Republic of Azerbaijan have maintained diplomatic relations since 1992. Trade between the two countries has steadily increased over the past five years.
Minister of Digital Development and Transport Rashad Nabiyev: “Today, the Ministry of Digital Development and Transport of Azerbaijan and the Ministry of Investment of the United Arab Emirates signed a Memorandum of Understanding on investment cooperation in data center projects. I look forward to this Memorandum contributing to the strengthening of Azerbaijan’s digital infrastructure and expansion of cooperation between our countries in this field.”
About the Ministry of Investment of the UAE
Established in July 2023, the Ministry of Investment aims to accelerate foreign direct investment into the country and further strengthen the UAE’s position as a globally leading investor.
