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Other sectors are also being significantly highlighted to advance the nation's decarbonization goals following the 28th Conference of the Parties (COP28). Low-carbon technologies, 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, reducing reliance on imported goods while likewise creating jobs for both nationals and homeowners.
As one of the world's top 20 economies, the UAE has secured 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 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.
In 2022, the Dubai Multi Commodities Center (DMCC) invited 665 brand-new companies, marking its best very first quarter in over twenty years, with considerable registrations from China, India, the UK, Germany, and France. 7 By 2023, the DMCC's total number of companies went beyond 24,000.8 Similarly, the Jebel Ali Free Zone supports almost 800 production companies with customized facilities, outstanding logistics, and over 100 personalized tasks.
Its strategic area at the crossroads of Europe, Asia, and Africa, offers seamless connection to international markets, which enables effective distribution of items to a vast array of consumers and end-users. Further, the UAE's strong logistics and facilities, lack of trade sanctions, and a growing number of open market arrangements with streamlined, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive location for developing manufacturing bases.
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