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Other sectors are likewise being progressively highlighted to advance the country's decarbonization goals following the 28th Conference of the Parties (COP28). Low-carbon technologies, such as solar PV production, are being actively pursued. 5 By targeting these sectors, the UAE intends to build a more varied and sustainable economy, decreasing dependence on imported goods while likewise producing jobs for both nationals and citizens.
As one of the world's leading 20 economies, the UAE has secured a leading position in foreign direct investment (FDI) inflows within the region. The World Investment Report 2024 by the United Nations Conference on Trade and Development 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 internationally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) invited 665 new companies, marking its best 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 companies surpassed 24,000.8 Similarly, the Jebel Ali Free Zone supports almost 800 manufacturing companies with tailored infrastructure, outstanding logistics, and over 100 personalized tasks.
Why Shared Services Are Essential for GCC Market ScalingIts tactical location at the crossroads of Europe, Asia, and Africa, offers smooth connection to global markets, which allows efficient circulation of products to a vast array of consumers and end-users. Further, the UAE's strong logistics and infrastructure, lack of trade sanctions, and a growing variety of open market contracts with streamlined, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive place for developing production bases.
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