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Other sectors are likewise being progressively stressed to advance the nation'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 aims to develop a more diversified and sustainable economy, decreasing dependence on imported items while also 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 financial investment (FDI) inflows within the region. The World Financial 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, putting the UAE 2nd internationally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) invited 665 new business, marking its best first quarter in over 20 years, with substantial registrations from China, India, the UK, Germany, and France. 7 By 2023, the DMCC's overall variety of business surpassed 24,000.8 Similarly, the Jebel Ali Free Zone supports nearly 800 production companies with tailored facilities, exceptional logistics, and over 100 customized projects.
Advanced Strategy for Middle East LeadershipIts strategic location at the crossroads of Europe, Asia, and Africa, offers smooth connectivity to worldwide markets, which makes it possible for efficient circulation of items to a large range of clients and end-users. Further, the UAE's strong logistics and facilities, lack of trade sanctions, and a growing number of free trade arrangements with structured, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive area for developing manufacturing bases.
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