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Other sectors are also being significantly stressed 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 develop a more diversified and sustainable economy, minimizing dependence on imported goods while also developing jobs for both nationals and locals.
As one of the world's leading 20 economies, the UAE has actually protected 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 Development reported that FDI streams into the UAE reached roughly US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, positioning the UAE 2nd globally in FDI inflows.
Modernizing Shared Providers for a More Connected GulfIn 2022, the Dubai Multi Commodities Center (DMCC) invited 665 brand-new companies, marking its best very 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 exceeded 24,000.8 Similarly, the Jebel Ali Free Zone supports almost 800 production companies with customized facilities, outstanding logistics, and over 100 customized jobs.
Modernizing Shared Providers for a More Connected GulfIts strategic area at the crossroads of Europe, Asia, and Africa, offers smooth connection to worldwide markets, which makes it possible for efficient distribution of products to a large range of clients and end-users. Further, the UAE's strong logistics and infrastructure, lack of trade sanctions, and a growing number of complimentary trade 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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