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Other sectors are also being significantly emphasized to advance the nation's decarbonization goals following the 28th Conference of the Celebrations (COP28). Low-carbon technologies, such as solar PV production, are being actively pursued. 5 By targeting these sectors, the UAE aims to develop a more diversified and sustainable economy, decreasing dependence on imported items while also producing jobs for both nationals and residents.
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 flows into the UAE reached around US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, placing the UAE 2nd internationally in FDI inflows.
Why Shared Services Are Necessary for GCC Market ScalingIn 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 brand-new business, marking its finest first quarter in over twenty years, with considerable registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's total variety of business surpassed 24,000.8 Similarly, the Jebel Ali Free Zone supports almost 800 manufacturing firms with customized facilities, exceptional logistics, and over 100 tailored projects.
Why Shared Services Are Necessary for GCC Market ScalingIts tactical area at the crossroads of Europe, Asia, and Africa, offers seamless connectivity to global markets, which enables efficient circulation of items to a large range of customers and end-users. Even more, the UAE's strong logistics and infrastructure, lack 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 location for establishing production bases.
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