The UAE’s planned multi-billion-dollar investment in Canada has yet to be deployed after Canadian officials told an Emirati delegation that there are currently no projects ready to receive the funding, according to a media report.
The investment commitment, valued at $50 billion, was secured during meetings between Mohamed bin Zayed Al Nahyan, Khaled bin Mohamed bin Zayed Al Nahyan and Canadian Prime Minister Mark Carney last year.
According to the report, officials from Canada’s Major Projects Office informed a UAE delegation during a business council meeting in Ottawa that no investment-ready projects were currently available for immediate financing.
The delegation had reportedly expressed interest in a range of opportunities, including energy infrastructure projects such as a proposed pipeline connecting Alberta and British Columbia.
Despite the delay, Canadian officials said the lack of available projects affects all international investors and is not specific to the UAE. Canada is working to accelerate major infrastructure developments as part of its strategy to attract foreign investment and expand trade beyond the United States.
Ottawa is also preparing to finalise a trade agreement with the UAE later this month, while discussions on cooperation in critical minerals remain ongoing.
The report comes as Canada prepares to showcase large-scale investment opportunities at an investor summit later this year, where it hopes to attract significant international capital over the next five years.
