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Other sectors are likewise 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 intends to construct a more diversified and sustainable economy, lowering dependence on imported items while likewise creating jobs for both nationals and residents.
As one of the world's top 20 economies, the UAE has secured 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, positioning the UAE second worldwide in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 new companies, marking its finest first quarter in over twenty years, with considerable registrations from China, India, the UK, Germany, and France. 7 By 2023, the DMCC's total number of companies went beyond 24,000.8 Likewise, the Jebel Ali Free Zone supports almost 800 manufacturing companies with tailored facilities, outstanding logistics, and over 100 customized jobs.
The Shift From Conventional Shared Providers to Intelligent HubsIts strategic location at the crossroads of Europe, Asia, and Africa, provides seamless connection to global markets, which allows effective 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 totally free trade contracts with streamlined, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive place for establishing manufacturing bases.
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