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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 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 items while likewise creating jobs 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 area. The World Investment Report 2024 by the United Nations Conference on Trade and Development reported that FDI streams into the UAE reached approximately US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, positioning the UAE second globally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 new business, marking its finest 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 exceeded 24,000.8 Likewise, the Jebel Ali Free Zone supports almost 800 production firms with customized infrastructure, outstanding logistics, and over 100 customized tasks.
Strategic Planning for Middle East SuccessIts tactical place 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 consumers and end-users. Further, the UAE's strong logistics and facilities, lack of trade sanctions, and a growing variety of open market agreements with streamlined, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive location for establishing manufacturing bases.
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