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Other sectors are also being progressively highlighted to advance the nation's decarbonization goals following the 28th Conference of the Celebrations (COP28). Low-carbon technologies, such as solar PV production, are being actively pursued. 5 By targeting these sectors, the UAE aims to construct a more diversified and sustainable economy, decreasing reliance on imported goods while likewise producing tasks for both nationals and homeowners.
As one of the world's top 20 economies, the UAE has actually secured a leading position in foreign direct investment (FDI) inflows within the area. The World Financial Investment Report 2024 by the United Nations Conference on Trade and Advancement reported that FDI flows into the UAE reached around US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, positioning the UAE 2nd globally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 brand-new companies, marking its best first quarter in over 20 years, with significant registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's total number of companies went beyond 24,000.8 Likewise, the Jebel Ali Free Zone supports almost 800 manufacturing companies with tailored facilities, excellent logistics, and over 100 personalized projects.
Its tactical location at the crossroads of Europe, Asia, and Africa, offers smooth connectivity to global markets, which enables efficient distribution of items to a wide range of clients and end-users. Further, the UAE's strong logistics and infrastructure, absence of trade sanctions, and a growing number of open market contracts 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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