UAE to invest €40bn in Germany, including for data centres: Berlin
The leader of the United Arab Emirates was on a state visit to Germany on Thursday that resulted in a promise to invest €40bn ($46.5bn) into Europe's top economy.The money would partly pay for da...
On a state visit to Germany, the United Arab Emirates announced plans to invest €40 billion into Europe's top economy. The investment would partly fund data centres capable of handling up to one gigawatt of capacity, according to Berlin. To strengthen business ties, an Investment Council will be established. The UAE, a major source of capital for the AI boom, invests long-term and values enduring partnerships, said Industry Minister Sultan Ahmed al-Jaber.
Germany, a long-standing strategic and economic partner for decades, welcomed the additional investment, reflecting its ambition to further bolster the relationship. President Mohamed bin Zayed al-Nahyan received Chancellor Friedrich Merz and President Frank-Walter Steinmeier, with tight security in Berlin. The visit coincided with tensions in the Gulf region, as the US war against Iran led to diversification of strategic and economic partnerships.
During Merz's February visit, Germany and the UAE signed 29 agreements worth €9.4 billion. The UAE has also made significant investments in Germany, including in the chemical industry and offshore wind power. German companies like BMW, Siemens, ThyssenKrupp, and Deutsche Bahn have a presence in the UAE, and German energy giant RWE signed a memorandum of understanding with Abu Dhabi's national oil company ADNOC on LNG imports. Germany supports talks towards a European Union free trade deal with the UAE.
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