Abu Dhabi's International Holding Company, the UAE’s largest company by market capitalisation, has teamed up with the US International Development Finance Corporation (DFC) to co-invest in key sectors, in what the latter says is a “crucial step” in President Donald Trump's foreign policy.
The agreement involves co-operation in industries including energy, mining, logistics, maritime operations, food security, agriculture and technologies including data centres, IHC said on Thursday in a filing to the Abu Dhabi Securities Exchange, where its shares trade.
Under the framework agreement both firms will deploy capital at scale, while building supply chains and allowing investment to and from both regions, it said.
The agreement was signed in Abu Dhabi in the presence of Sheikh Tahnoon bin Zayed, chairman of IHC, Deputy Ruler of Abu Dhabi and National Security Adviser, IHC chief executive Syed Shueb and DFC chief executive Ben Black.
The DFC – the US government's international investment arm – sees the “work with IHC [as] a crucial step in executing President Trump’s foreign policy vision and deepens the US-UAE bilateral relationship”, Mr Black said.
Both sides will focus on investments that “strengthen and expand economic opportunity and advance shared US-UAE strategic goals – all while making a return for the US taxpayer”, he said.
The UAE and the US are advancing their economic and bilateral relationships, with the primary focus on technology
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