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Other sectors are also being significantly emphasized to advance the country's decarbonization goals 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 intends to construct a more diversified and sustainable economy, minimizing reliance on imported goods while likewise producing jobs for both nationals and homeowners.
As one of the world's leading 20 economies, the UAE has protected a leading position in foreign direct investment (FDI) inflows within the region. The World Financial Investment Report 2024 by the United Nations Conference on Trade and Advancement 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 second internationally in FDI inflows.
Driving Industrial Growth Within Dubai and the GCCIn 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 brand-new business, marking its finest first quarter in over 20 years, with significant 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 nearly 800 production companies with tailored facilities, exceptional logistics, and over 100 customized tasks.
Its tactical place at the crossroads of Europe, Asia, and Africa, offers seamless connection to worldwide markets, which enables effective distribution of items to a large variety of clients and end-users. Further, the UAE's strong logistics and facilities, lack of trade sanctions, and a growing number of totally free trade arrangements 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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