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Other sectors are also being increasingly 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 develop a more varied and sustainable economy, reducing dependence on imported products while likewise developing 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 Financial Investment Report 2024 by the United Nations Conference on Trade and Advancement reported that FDI streams into the UAE reached approximately US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, putting the UAE 2nd worldwide in FDI inflows.
Why Future-Focused Strategy Reshapes the GCC EconomyIn 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 UK, Germany, and France. 7 By 2023, the DMCC's overall number of business went beyond 24,000.8 Likewise, the Jebel Ali Free Zone supports nearly 800 production companies with customized infrastructure, exceptional logistics, and over 100 personalized jobs.
Its tactical location at the crossroads of Europe, Asia, and Africa, offers seamless connection to global markets, which enables effective distribution of items to a vast array of clients and end-users. Further, the UAE's strong logistics and infrastructure, lack of trade sanctions, and a growing number of open market arrangements with structured, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive place for establishing production bases.
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