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Other sectors are likewise being progressively highlighted to advance the country's decarbonization objectives following the 28th Conference of the Celebrations (COP28). Low-carbon innovations, such as solar PV manufacturing, are being actively pursued. 5 By targeting these sectors, the UAE aims to build a more diversified and sustainable economy, minimizing dependence on imported products while likewise creating jobs for both nationals and locals.
As one of the world's top 20 economies, the UAE has actually 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 Advancement reported that FDI streams into the UAE reached roughly US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, positioning the UAE 2nd internationally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) invited 665 new companies, marking its finest very first quarter in over twenty years, with substantial registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's overall variety of business went beyond 24,000.8 Likewise, the Jebel Ali Free Zone supports nearly 800 manufacturing companies with tailored infrastructure, exceptional logistics, and over 100 personalized projects.
Its strategic location at the crossroads of Europe, Asia, and Africa, provides smooth connectivity to international markets, which allows efficient circulation of products to a vast array of customers and end-users. Further, the UAE's strong logistics and infrastructure, 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 production bases.
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