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Other sectors are also being increasingly emphasized to advance the country's decarbonization goals following the 28th Conference of the Parties (COP28). Low-carbon innovations, such as solar PV manufacturing, are being actively pursued. 5 By targeting these sectors, the UAE aims to develop a more varied and sustainable economy, decreasing reliance on imported products while likewise developing jobs for both nationals and citizens.
As one of the world's top 20 economies, the UAE has secured a leading position in foreign direct 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, putting the UAE 2nd globally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 new business, marking its best 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 companies exceeded 24,000.8 Likewise, the Jebel Ali Free Zone supports nearly 800 production companies with customized facilities, excellent logistics, and over 100 customized jobs.
Leveraging Market Research to Drive Strategic GrowthIts tactical area at the crossroads of Europe, Asia, and Africa, provides smooth connection to worldwide markets, which makes it possible for effective circulation of products to a wide range of consumers and end-users. Further, the UAE's strong logistics and facilities, absence of trade sanctions, and a growing variety of open market agreements 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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