The Benefits of Industrial Growth for the GCC

Other sectors are also being progressively highlighted to advance the nation'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 intends to build a more diversified and sustainable economy, minimizing dependence on imported products while likewise developing jobs for both nationals and citizens.

ANSR July GCC PRs 50DR+

As one of the world's leading 20 economies, the UAE has actually protected 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 globally in FDI inflows.

In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 brand-new business, marking its finest very first quarter in over 20 years, with considerable registrations from China, India, the UK, Germany, and France. 7 By 2023, the DMCC's total number of business went beyond 24,000.8 Likewise, the Jebel Ali Free Zone supports almost 800 production firms with tailored infrastructure, outstanding logistics, and over 100 tailored tasks.

ANSR July GCC PRs 50DR+

Comparing Industrial Strategy Frameworks within the GCC

Its tactical area at the crossroads of Europe, Asia, and Africa, offers seamless connection to global markets, which allows efficient distribution of products to a wide variety of customers and end-users. Even more, the UAE's strong logistics and facilities, lack of trade sanctions, and a growing number of 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 area for developing production bases.