ABU DHABI, May 21 (Reuters) - France is open to the
United Arab Emirates investing in its nuclear power and
artificial intelligence industries, its finance minister said on
Tuesday, ahead of signing a strategic partnership with the Gulf
state on AI.
The Gulf state has emerged as a major investor in artificial
intelligence while sources have told Reuters that oil rich Abu
Dhabi wants to invest in Europe's nuclear power industry.
French Finance Minister Bruno le Maire told reporters that
France would welcome Emirati investments into its nuclear
industry such as in nuclear fuel specialist Orano, which the
government majority owns.
"We are open to that kind of cooperation," he said in Abu
Dhabi's financial district ahead of signing the partnership,
adding that he would discuss it in meetings with UAE officials.
Le Maire was due to meet Khaldoon Al Mubarak, the chairman
of state Emirates Nuclear Energy Corp and managing director of
Abu Dhabi government-controlled fund Mubadala. He was also to
meet with Sultan Al Jaber, minister of industry and advanced
technology and chief executive of state oil firm Adnoc.
France is providing tens of billions of euros for
state-controlled energy provider EDF to build six new reactors.
Emirates Nuclear Energy is interested in building up a
portfolio of minority investments in European nuclear power
infrastructure, sources previously said.
The Gulf state has since 2021 operated its own nuclear power
plant, which was built by South Korea, and sources have said
Abu Dhabi is planning to soon tender for four new reactors.
Le Maire said France would be willing to provide assistance
if UAE expanded its nuclear infrastructure.
France also would welcome Emirati investments in artificial
intelligence, he said, adding that Paris wanted to work closely
with Abu Dhabi on semiconductors and computer chip capabilities.
Abu Dhabi state-controlled fund Mubadala is the majority
shareholder in chipmaker GlobalFoundaries, which is building a
semiconductor facility in France with STMicroelectronics
.
Le Maire said France and the UAE could jointly invest in
cloud computing and data processing and that the strategic
partnership would see more scientists and researchers at the Abu
Dhabi campus of the Paris Sorbonne.
UAE investments in AI drew scrutiny from the United States
over the Gulf state's ties with China and concerns sophisticated
American technology and capabilities could be acquired by
Chinese companies partnering with the UAE.
However, the UAE this year agreed with the United States to
limit its technology cooperation with China in exchange for
better access to American technology and capabilities.
Le Maire said France's partnership with the UAE would be
based on the idea of sovereignty, meaning that key technologies
and the skills must remain with those nations that develop it.