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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 intends to build a more varied and sustainable economy, lowering reliance on imported products while also creating tasks for both nationals and locals.
As one of the world's top 20 economies, the UAE has protected 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 flows 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.
In 2022, the Dubai Multi Commodities Center (DMCC) invited 665 brand-new companies, marking its finest very 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 variety of companies went beyond 24,000.8 Likewise, the Jebel Ali Free Zone supports nearly 800 production companies with tailored facilities, excellent logistics, and over 100 customized jobs.
Its tactical area at the crossroads of Europe, Asia, and Africa, offers smooth connection to international markets, which enables effective circulation of items to a large range of customers and end-users. Further, the UAE's strong logistics and infrastructure, lack 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 place for establishing production bases.
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