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Other sectors are also being significantly highlighted to advance the nation'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, reducing dependence on imported products while also developing jobs for both nationals and citizens.
As one of the world's leading 20 economies, the UAE has actually protected 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, putting the UAE 2nd internationally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 brand-new companies, marking its best first quarter in over twenty 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 Similarly, the Jebel Ali Free Zone supports nearly 800 manufacturing firms with customized infrastructure, exceptional logistics, and over 100 tailored tasks.
Navigating the Crossway of Law and Commerce in OmanIts tactical place at the crossroads of Europe, Asia, and Africa, provides seamless connectivity to international markets, which makes it possible for efficient distribution of products to a vast array of customers and end-users. Even more, the UAE's strong logistics and facilities, absence of trade sanctions, and a growing variety of open market contracts with structured, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an appealing area for establishing manufacturing bases.
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