Skip to content

UAE and Greece sign 18 agreements worth EUR 12.75 billion; Abu Dhabi plans EUR 15 billion more

1 min read

An empty, modern conference hall in Abu Dhabi with rows of chairs facing a stage Investments
An empty, modern conference hall in Abu Dhabi with rows of chairs facing a stage

Deals at the UAE-Greece Strategic Forum in Athens cover AI, renewable energy, ports, health and food security, and Abu Dhabi will expand a joint investment initiative set up in 2022.

The UAE and Greece announced 18 memorandums of understanding, agreements and commercial partnerships worth EUR 12.75 billion at the UAE-Greece Strategic Forum in Athens on 22 October, the Abu Dhabi Media Office said. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Greek Prime Minister Kyriakos Mitsotakis attended.

The agreements cover digital infrastructure, advanced technology, artificial intelligence, renewable and clean energy, industry, logistics, transport and ports, healthcare and life sciences, and food security.

Abu Dhabi also said it plans to invest a further EUR 15 billion in Greece through a joint investment initiative launched in May 2022 with EUR 4 billion, which has completed deals in energy and healthcare, Kathimerini reported. Specific investments were not disclosed.

Among the deals, G42 and five of its companies signed initial agreements on AI infrastructure, government services, life sciences and smart cities, and Masdar agreed to buy a solar project of more than 550 megawatts. Speaking at Investopia in Athens, UAE Minister of Investment Mohamed Hassan Alsuwaidi named AI, technology, defence, healthcare and logistics as priority areas.

For UAE-based companies, the forum opens routes into the European Union through Greece, while Greek firms gain a base for the Gulf. Many of the agreements are memorandums, so the investment that follows will depend on later contracts.

Sources