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Other sectors are also being significantly highlighted to advance the nation's decarbonization objectives following the 28th Conference of the Parties (COP28). Low-carbon innovations, such as solar PV production, are being actively pursued. 5 By targeting these sectors, the UAE aims to construct a more varied and sustainable economy, reducing reliance on imported items 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 Financial Investment Report 2024 by the United Nations Conference on Trade and Advancement reported that FDI streams into the UAE reached approximately US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, placing the UAE 2nd internationally in FDI inflows.
Accelerating Regional Corporate Growth through InnovationIn 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 new companies, marking its best first quarter in over 20 years, with significant registrations from China, India, the UK, Germany, and France. 7 By 2023, the DMCC's total variety of companies surpassed 24,000.8 Similarly, the Jebel Ali Free Zone supports nearly 800 production firms with customized facilities, outstanding logistics, and over 100 personalized projects.
Accelerating Regional Corporate Growth through InnovationIts tactical area at the crossroads of Europe, Asia, and Africa, uses seamless connection to international markets, which enables effective distribution of products to a large range of customers and end-users. Further, the UAE's strong logistics and facilities, absence of trade sanctions, and a growing variety of totally free trade arrangements with structured, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an appealing location for establishing production bases.
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