UAE’s Mubadala Investment Company announced a long-term investment agreement with the UK Office for Investment (OfI), valued at $1.379 billion. This is the first agreement of its kind for the UK and the Office for Investment and will deepen existing UK-UAE trade and investment ties that were worth $44.1 billion in 2019. Mubadala said that the Sovereign Investment Partnership (SIP) will serve as a coordinated investment framework to grow a future-focused relationship between the two nations, following the meeting between Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan and Prime Minister Boris Johnson. The agreement extends over five years, during which Mubadala invests an initial amount of $1.1 billion alongside the UK’s $2.75.8 billion Life Sciences Investment Program announced last year. The joint investment will provide vital capital for the future generation of life sciences businesses, enabling them to scale and grow. CEO of Mubadala al-Khaldoon al-Mubarak said the company and OfI are aligned on the importance of global action on critical priorities such as healthcare innovation and delivery, climate change and the sustainable growth of high-skilled industries. “Mubadala is already a long-term investor in UK innovation and growth, and our new partnership now provides a platform to allocate stable capital to priority sectors as part of a future-focused investment relationship,” Khaldoon was quoted as saying by Emirates News Agency (WAM). UK Minister for Investment Gerry Grimstone asserted that this partnership will enable the UK life sciences sector to develop cutting-edge technologies and research while retaining homegrown innovation and jobs. “It will also leverage the UK and UAEs mutual priorities in building better and stronger economies through investment.” Grimstone indicated that attracting and enabling strategic international investors to operate effectively in the UK is vital to job creation and our growth as a world leader in life sciences, clean growth, tech and innovation. “Mubadala is exactly the caliber of investor that we want to partner with to enable vital pillars of our economy to advance.” This is Mubadala’s sixth investment partnership with the Office for Investment. The company is in agreement with many countries, such as China, Russia, and France aiming to develop new trade relationships across many sectors. Its collaboration with Imperial College London is one of the first partnerships established by Mubadala in the UK and resulted in many health facilities in the UAE that provide treatment to hundreds of thousands of diabetic patients without the need to travel abroad. Mubadala is also one of the largest and most prominent infrastructure investors in clean energy in the UK through its large investments in wind power. In 2018, it established its London-based startup investment office that has been investing in several British and European companies ever since.