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Other sectors are also being significantly highlighted to advance the country's decarbonization objectives following the 28th Conference of the Parties (COP28). Low-carbon technologies, such as solar PV manufacturing, are being actively pursued. 5 By targeting these sectors, the UAE aims to develop a more diversified and sustainable economy, minimizing reliance on imported products while also developing jobs for both nationals and homeowners.
As one of the world's leading 20 economies, the UAE has secured a leading position in foreign direct investment (FDI) inflows within the area. The World Investment Report 2024 by the United Nations Conference on Trade and Advancement reported that FDI streams into the UAE reached roughly US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, positioning the UAE second internationally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 brand-new business, marking its finest very first quarter in over twenty years, with substantial registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's overall variety of business surpassed 24,000.8 Similarly, the Jebel Ali Free Zone supports nearly 800 production companies with tailored facilities, outstanding logistics, and over 100 personalized projects.
Its tactical area at the crossroads of Europe, Asia, and Africa, uses seamless connection to worldwide markets, which enables efficient circulation of items to a broad variety of clients and end-users. Further, the UAE's strong logistics and facilities, absence of trade sanctions, and a growing variety of free trade arrangements with structured, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive place for developing manufacturing bases.
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