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Other sectors are also being progressively stressed 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 construct a more varied and sustainable economy, reducing dependence on imported products while also creating tasks for both nationals and locals.
As one of the world's top 20 economies, the UAE has actually 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 Advancement reported that FDI streams into the UAE reached roughly US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, positioning the UAE 2nd worldwide in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) invited 665 brand-new companies, marking its finest very first quarter in over 20 years, with considerable registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's total variety of companies exceeded 24,000.8 Similarly, the Jebel Ali Free Zone supports almost 800 manufacturing firms with tailored infrastructure, outstanding logistics, and over 100 personalized projects.
The Attraction of Saudi Arabia's New Company EcosystemsIts strategic area at the crossroads of Europe, Asia, and Africa, provides smooth connectivity to global markets, which allows effective circulation of products to a vast array of customers and end-users. Further, the UAE's strong logistics and infrastructure, lack of trade sanctions, and a growing variety of totally 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 location for developing production bases.
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