The United Arab Emirates will invest nearly 12 billion euros in the sectors of technology, infrastructure and energy transition in the United Kingdom, announced Thursday Mubadala, a sovereign wealth fund based in Abu Dhabi.
This sum complements an investment partnership between the two countries launched in March, with an initial commitment of 800 million pounds (928 million euros) by Mubadala and 200 million (234 million euros) by the United Kingdom. in the scientific field.
“The Emirates is committed to (investing) 10 billion pounds (around 11.7 billion euros),” Mubadala said in a statement, adding that this commitment, like the previous one, is for a period of five years.
This initiative will “promote a significant increase in investments” in the “technology, infrastructure and energy transition” sectors, said the sovereign fund.
These are “key sectors which are at the base of the economic growth of the two nations”, according to Khaldoun al-Mubarak, general manager of Mubadala, quoted by the press release.
British Investment Minister Gerry Grimstone said the partnership “will broaden the exchange of knowledge, skills and ideas” between the two countries, the statement said.
Thursday’s announcement comes during a visit to the United Kingdom of Mohammed ben Zayed, crown prince of Abu Dhabi, capital of the United Arab Emirates. The de facto ruler of the wealthy Gulf country has met with British Prime Minister Boris Johnson, according to the official UAE news agency WAM.
Mubadala is one of the largest sovereign wealth funds in the world, investing in various sectors across the globe. In France, he notably invested in the Lac d’Argent fund to support the capitalization of large companies.