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Other sectors are also being increasingly highlighted to advance the country's decarbonization goals following the 28th Conference of the Parties (COP28). Low-carbon technologies, such as solar PV manufacturing, are being actively pursued. 5 By targeting these sectors, the UAE aims to build a more varied and sustainable economy, lowering reliance on imported items while also creating jobs for both nationals and citizens.
As one of the world's top 20 economies, the UAE has protected a leading position in foreign direct financial investment (FDI) inflows within the area. The World 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 globally in FDI inflows.
How Shared Solutions Are Driving Digital Transformation in the GulfIn 2022, the Dubai Multi Commodities Center (DMCC) invited 665 new business, marking its best first quarter in over twenty years, with substantial registrations from China, India, the UK, Germany, and France. 7 By 2023, the DMCC's total number of business exceeded 24,000.8 Likewise, the Jebel Ali Free Zone supports almost 800 manufacturing companies with tailored facilities, excellent logistics, and over 100 customized tasks.
Its tactical location at the crossroads of Europe, Asia, and Africa, offers smooth connection to worldwide markets, which allows efficient distribution of products to a large range of consumers and end-users. Even more, the UAE's strong logistics and infrastructure, absence of trade sanctions, and a growing number of open market 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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