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Other sectors are also being significantly emphasized to advance the country'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 build a more varied and sustainable economy, reducing reliance on imported goods while also developing tasks for both nationals and locals.
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 area. The World Investment Report 2024 by the United Nations Conference on Trade and Advancement reported that FDI flows into the UAE reached around US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, positioning the UAE 2nd worldwide in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) invited 665 new business, marking its best first quarter in over 20 years, with significant registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's overall variety of business exceeded 24,000.8 Likewise, the Jebel Ali Free Zone supports almost 800 manufacturing companies with tailored facilities, exceptional logistics, and over 100 tailored tasks.
Its tactical area at the crossroads of Europe, Asia, and Africa, uses seamless connection to global markets, which allows effective distribution of items to a wide variety of clients and end-users. Even more, the UAE's strong logistics and facilities, absence of trade sanctions, and a growing number of free trade arrangements with streamlined, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an appealing location for establishing manufacturing bases.
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