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Other sectors are likewise being increasingly highlighted to advance the nation'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 construct a more diversified and sustainable economy, decreasing dependence on imported goods while also developing jobs for both nationals and locals.
As one of the world's leading 20 economies, the UAE has secured a leading position in foreign direct 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, putting the UAE 2nd internationally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) invited 665 new companies, marking its finest first quarter in over 20 years, with substantial registrations from China, India, the UK, 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, exceptional logistics, and over 100 tailored projects.
Its tactical area at the crossroads of Europe, Asia, and Africa, uses seamless connection to worldwide markets, which allows effective distribution of products to a large range of consumers and end-users. Even more, the UAE's strong logistics and infrastructure, lack of trade sanctions, and a growing variety of free trade agreements with structured, 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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