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Other sectors are also being significantly stressed 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 construct a more varied and sustainable economy, minimizing reliance on imported goods while also developing jobs for both nationals and citizens.
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 Financial 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, positioning the UAE second globally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 new companies, marking its finest very first quarter in over 20 years, with considerable registrations from China, India, the UK, Germany, and France. 7 By 2023, the DMCC's overall number of business went beyond 24,000.8 Similarly, the Jebel Ali Free Zone supports almost 800 manufacturing companies with tailored infrastructure, outstanding logistics, and over 100 customized jobs.
Leading Organizational Change for Modern GCC
Its strategic area at the crossroads of Europe, Asia, and Africa, offers smooth connection to worldwide markets, which enables efficient circulation of products to a vast array of clients and end-users. Further, the UAE's strong logistics and facilities, lack 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 attractive place for developing manufacturing bases.
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