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Other sectors are also being progressively 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 build a more varied and sustainable economy, lowering dependence on imported items while likewise creating tasks 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 area. The World Financial Investment Report 2024 by the United Nations Conference on Trade and Advancement reported that FDI streams into the UAE reached around 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 companies, marking its finest first quarter in over twenty years, with significant registrations from China, India, the UK, Germany, and France. 7 By 2023, the DMCC's overall number of companies surpassed 24,000.8 Similarly, the Jebel Ali Free Zone supports nearly 800 manufacturing firms with customized facilities, exceptional logistics, and over 100 tailored projects.
Its strategic location at the crossroads of Europe, Asia, and Africa, uses seamless connection to international markets, which enables efficient circulation of products to a vast array of clients and end-users. Even more, the UAE's strong logistics and infrastructure, absence of trade sanctions, and a growing number of open market agreements with streamlined, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an appealing area for developing manufacturing bases.
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