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Other sectors are also being significantly highlighted to advance the country's decarbonization goals following the 28th Conference of the Celebrations (COP28). Low-carbon technologies, such as solar PV manufacturing, are being actively pursued. 5 By targeting these sectors, the UAE aims to construct a more diversified and sustainable economy, reducing reliance on imported items while also developing jobs for both nationals and residents.
As one of the world's top 20 economies, the UAE has actually protected 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, putting the UAE second worldwide in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 brand-new companies, marking its best very first quarter in over twenty years, with significant registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's overall variety of business surpassed 24,000.8 Likewise, the Jebel Ali Free Zone supports almost 800 manufacturing firms with tailored facilities, outstanding logistics, and over 100 customized projects.
Boosting Dubai Manufacturing Expansion InitiativesIts strategic location at the crossroads of Europe, Asia, and Africa, provides seamless connection to global markets, which makes it possible for efficient circulation of products to a vast array of clients and end-users. Further, the UAE's strong logistics and facilities, lack of trade sanctions, and a growing variety of free trade contracts with streamlined, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive area for developing production bases.
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