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Other sectors are likewise being significantly stressed to advance the nation's decarbonization goals following the 28th Conference of the Celebrations (COP28). Low-carbon innovations, such as solar PV manufacturing, are being actively pursued. 5 By targeting these sectors, the UAE aims to build a more varied and sustainable economy, minimizing dependence on imported items while also developing tasks for both nationals and residents.
As one of the world's leading 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 streams into the UAE reached roughly 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 new companies, marking its best first quarter in over 20 years, with substantial registrations from China, India, the United Kingdom, 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 production firms with tailored infrastructure, outstanding logistics, and over 100 tailored projects.
Its tactical area at the crossroads of Europe, Asia, and Africa, uses seamless connection to international markets, which makes it possible for effective distribution of items to a large range of clients and end-users. Further, the UAE's strong logistics and facilities, absence of trade sanctions, and a growing variety of open market 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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