The Benefits of Industrial Growth in the GCC

Other sectors are likewise being significantly emphasized 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 intends to build a more varied and sustainable economy, reducing dependence on imported items while likewise developing tasks for both nationals and residents.

ANSR July GCC PRs 50DR+

As one of the world's leading 20 economies, the UAE has secured a leading position in foreign direct financial investment (FDI) inflows within the area. The World Investment Report 2024 by the United Nations Conference on Trade and Development reported that FDI flows into the UAE reached approximately US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, positioning the UAE second internationally in FDI inflows.

In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 brand-new companies, marking its best very first quarter in over 20 years, with substantial registrations from China, India, the United Kingdom, 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 firms with customized infrastructure, excellent logistics, and over 100 tailored jobs.

ANSR July GCC PRs 50DR+

Comparing Industrial Strategy Frameworks within the GCC

Its tactical area at the crossroads of Europe, Asia, and Africa, uses smooth connection to international markets, which enables efficient distribution of products to a large variety of consumers and end-users. Further, the UAE's strong logistics and infrastructure, lack of trade sanctions, and a growing number 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 appealing area for developing manufacturing bases.