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Other sectors are also being progressively stressed 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 aims to develop a more diversified and sustainable economy, reducing dependence on imported items while likewise producing jobs for both nationals and homeowners.
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 region. The World Financial 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) welcomed 665 brand-new companies, marking its finest 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 exceeded 24,000.8 Likewise, the Jebel Ali Free Zone supports almost 800 manufacturing companies with customized facilities, outstanding logistics, and over 100 tailored tasks.
Its strategic area at the crossroads of Europe, Asia, and Africa, provides smooth connectivity to international markets, which allows efficient distribution of products to a vast array of consumers and end-users. Further, the UAE's strong logistics and infrastructure, lack of trade sanctions, and a growing variety of complimentary trade arrangements 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 production bases.
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