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Other sectors are likewise being significantly emphasized to advance the nation's decarbonization goals 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 diversified and sustainable economy, reducing reliance on imported items while also developing tasks for both nationals and locals.
As one of the world's top 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 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.
The Digital Backbone: Shared Services in the Modern GCCIn 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 new business, marking its best very first quarter in over twenty years, with significant registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's total variety of business exceeded 24,000.8 Similarly, the Jebel Ali Free Zone supports nearly 800 manufacturing companies with tailored facilities, outstanding logistics, and over 100 customized projects.
Its tactical area at the crossroads of Europe, Asia, and Africa, offers smooth connection to worldwide markets, which allows efficient distribution of items to a wide variety of customers and end-users. Further, the UAE's strong logistics and infrastructure, absence 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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