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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 aims to build a more diversified and sustainable economy, lowering dependence on imported goods while also creating tasks for both nationals and locals.
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 Development 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.
Unlocking Process Excellence in Dubai's Industrial LandscapeIn 2022, the Dubai Multi Commodities Center (DMCC) invited 665 brand-new companies, marking its finest first quarter in over 20 years, with substantial registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's total variety of companies went beyond 24,000.8 Likewise, the Jebel Ali Free Zone supports almost 800 production companies with customized infrastructure, outstanding logistics, and over 100 personalized projects.
Its tactical location at the crossroads of Europe, Asia, and Africa, offers smooth connectivity to global markets, which allows efficient circulation of products to a large range 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 agreements with streamlined, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an appealing area for developing manufacturing bases.
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