In a parallel development, the Executive Office of Anti-Money Laundering and Counter Terrorism Financing of the UAE entered into an MoU with Kazakhstan's Financial Monitoring Agency . This accord aims to bolster collaboration in combating financial crimes, focusing on money laundering, terrorism financing, and proliferation financing. The partnership will concentrate on virtual assets, public-private partnerships, education and capacity building, and asset recovery. Hamid AlZaabi, Director General of the EO AML/CTF, emphasised the importance of this collaboration, stating it formalises both countries' commitment to protecting the integrity of the global financial system.
Further strengthening bilateral relations, the UAE's Ministry of Investment signed an MoU with Kazakhstan's Ministry of Digital Development, Innovations, and Aerospace Industry, along with the Sovereign Wealth Fund Samruk-Kazyna. This strategic agreement establishes a framework for investment cooperation in data centre and artificial intelligence projects in Kazakhstan. Mohamed Hassan Alsuwaidi, the UAE's Minister of Investment, highlighted that these planned investments will enhance Kazakhstan's expanding digital infrastructure, providing businesses with greater opportunities to embrace digitisation.
Kazakhstan's data centre market is projected to grow at a compound annual growth rate of 6.83% between 2024 and 2028, reaching a market volume of $416.7 million. Nurlan Zhakupov, Chairman of the Management Board of Samruk-Kazyna, underscored the significance of developing data centres, noting that they serve as the backbone of innovation and economic development, positioning Kazakhstan prominently in the global digital landscape.
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