The Ministry of Investment of the UAE and the Department of Trade and Industry of the Philippines signed a Memorandum of Understanding (MoU) paving the way for investments that will help drive the digital economy.
The MoU was signed by H.E. Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, H.E. and Alfredo E. Pascual, Secretary of Department of Trade and Industry of the Philippines.
Data center projects to be developed under the MoU can reach a total capacity of up to 500 megawatts. 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 the Philippines. The MoU also suggests the introduction of incentives for relevant initiatives and will facilitate knowledge sharing.
Commenting on the agreement, Mohamed Hassan Alsuwaidi, said, “The MoU reflects our commitment to strengthening bilateral ties and setting the stage for collaboration in the digital infrastructure sector... This agreement with the Philippines, one of the fastest growing economies in Asia with rapid digital adoption, robust infrastructure and strategic market proximity, is set to accelerate the ongoing digital transformation of the UAE.”
