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Other sectors are also being increasingly highlighted to advance the country's decarbonization objectives following the 28th Conference of the Celebrations (COP28). Low-carbon innovations, such as solar PV production, are being actively pursued. 5 By targeting these sectors, the UAE intends to construct a more varied and sustainable economy, decreasing dependence on imported goods while likewise creating tasks for both nationals and citizens.
As one of the world's leading 20 economies, the UAE has protected a leading position in foreign direct financial 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 around US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, putting the UAE second worldwide in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 new business, marking its finest very first quarter in over twenty years, with substantial registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's overall variety of companies surpassed 24,000.8 Similarly, the Jebel Ali Free Zone supports almost 800 production firms with customized facilities, outstanding logistics, and over 100 tailored tasks.
Its strategic location at the crossroads of Europe, Asia, and Africa, provides seamless connectivity to worldwide markets, which allows efficient distribution of products to a large range of consumers and end-users. Further, the UAE's strong logistics and facilities, lack of trade sanctions, and a growing number of complimentary trade agreements with structured, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive location for developing manufacturing bases.
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