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Other sectors are also being significantly stressed to advance the country's decarbonization objectives following the 28th Conference of the Parties (COP28). Low-carbon technologies, such as solar PV production, are being actively pursued. 5 By targeting these sectors, the UAE intends to develop a more varied and sustainable economy, decreasing reliance on imported items while likewise producing tasks for both nationals and residents.
As one of the world's top 20 economies, the UAE has secured a leading position in foreign direct financial investment (FDI) inflows within the area. The World Investment Report 2024 by the United Nations Conference on Trade and Development reported that FDI streams into the UAE reached around US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, placing the UAE 2nd globally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 new business, marking its finest first quarter in over 20 years, with substantial registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's overall number of companies went beyond 24,000.8 Likewise, the Jebel Ali Free Zone supports nearly 800 manufacturing firms with customized infrastructure, outstanding logistics, and over 100 customized jobs.
Its strategic location at the crossroads of Europe, Asia, and Africa, provides smooth connectivity to worldwide markets, which makes it possible for efficient circulation of products to a wide variety of consumers and end-users. Further, the UAE's strong logistics and facilities, lack of trade sanctions, and a growing number of totally free trade contracts with streamlined, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an appealing place for establishing manufacturing bases.
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