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Other sectors are likewise being progressively stressed to advance the nation's decarbonization goals following the 28th Conference of the Celebrations (COP28). Low-carbon technologies, such as solar PV manufacturing, are being actively pursued. 5 By targeting these sectors, the UAE intends to construct a more diversified and sustainable economy, decreasing dependence on imported goods while likewise producing tasks for both nationals and locals.
As one of the world's top 20 economies, the UAE has secured a leading position in foreign direct financial investment (FDI) inflows within the region. 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, placing the UAE 2nd worldwide in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 brand-new companies, marking its best first quarter in over 20 years, with considerable registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's total variety of companies went beyond 24,000.8 Similarly, the Jebel Ali Free Zone supports nearly 800 manufacturing firms with customized facilities, exceptional logistics, and over 100 customized tasks.
The Business owner's Guide to Emerging Saudi Business ClustersIts tactical area at the crossroads of Europe, Asia, and Africa, provides smooth connection to worldwide markets, which makes it possible for effective distribution of items to a large range of customers and end-users. Even more, the UAE's strong logistics and facilities, lack of trade sanctions, and a growing variety of open market agreements with structured, 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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