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Other sectors are likewise 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 manufacturing, are being actively pursued. 5 By targeting these sectors, the UAE aims to build a more diversified and sustainable economy, reducing reliance on imported goods while likewise producing jobs for both nationals and residents.
As one of the world's leading 20 economies, the UAE has actually secured a leading position in foreign direct financial investment (FDI) inflows within the region. 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, placing the UAE 2nd worldwide in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 brand-new business, marking its best first quarter in over twenty years, with substantial registrations from China, India, the UK, Germany, and France. 7 By 2023, the DMCC's total number of business surpassed 24,000.8 Similarly, the Jebel Ali Free Zone supports almost 800 manufacturing firms with tailored facilities, outstanding logistics, and over 100 customized projects.
Its strategic area at the crossroads of Europe, Asia, and Africa, provides seamless connection to global markets, which allows efficient distribution of items to a vast array of clients and end-users. Further, the UAE's strong logistics and infrastructure, lack of trade sanctions, and a growing variety of open market arrangements with streamlined, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive area for developing manufacturing bases.
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