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Other sectors are also being progressively highlighted to advance the country's decarbonization objectives following the 28th Conference of the Parties (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, lowering reliance on imported goods 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 financial 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 around US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, placing the UAE second worldwide in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) invited 665 new companies, marking its finest first quarter in over 20 years, with considerable registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's overall variety of companies went beyond 24,000.8 Similarly, the Jebel Ali Free Zone supports nearly 800 manufacturing firms with customized infrastructure, exceptional logistics, and over 100 customized jobs.
Its strategic area at the crossroads of Europe, Asia, and Africa, offers seamless connectivity to international markets, which enables efficient distribution of products to a wide variety of customers and end-users. Further, the UAE's strong logistics and infrastructure, 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 location for establishing manufacturing bases.
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