G42, the leading UAE-based technology holding company, and the Ministry of Innovation and Growth of the Republic of Bulgaria signed a Memorandum of Understanding (MoU) to accelerate digital transformation in the Eastern European country and technology transfer between the respective ecosystems.
Under the agreement the parties will collaborate to accelerate the joint development of Artificial Intelligence (AI) and cloud computing solutions across sectors, with a focus on energy efficiency, digital government and smart cities. In order to achieve this, G42 and the Ministry will explore collaboration with both Bulgarian public and private organizations across commercial and investment opportunities.
This comes in line with G42’s endeavors to enable national governments to unlock greater efficiency through the use of advanced AI techniques and solutions, as well as the Government of the Republic of Bulgaria’s aspirations to advance its digital capabilities and develop its tech ecosystem.
The signing ceremony took place on the back of an official visit to the UAE by a delegation from the Government of the Republic of Bulgaria, led by the President Rumen Radev. The MoU was signed by Mansoor Al Mansoori, Chief Group Operating Officer, G42, and Alexander Poulev, Minister of Innovation and Growth of the Republic of Bulgaria.
Commenting on the MoU, Mansoor AlMansoori, COO, G42, said: “We are very pleased to sign this MoU with the Bulgarian government to enable digital transformation, building on Bulgaria’s national policy to digitize its economy and strengthen its technology ecosystem and talent. We stand ready to foster knowledge sharing and jointly explore the wide breath of applications of AI and advanced technologies to drive long-term and sustainable value for our partners.”
Alexander Poulev, Minister of Innovation and Growth of the Republic of Bulgaria, said: ““We arrived in your wonderful country not only looking for investments but also in search for strategic partnerships built around common priorities. This memorandum forms the basis of our joint activities and is an important stepping stone, the first step in hopefully a long and successful journey.”