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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 technologies, such as solar PV production, are being actively pursued. 5 By targeting these sectors, the UAE aims to construct a more varied and sustainable economy, minimizing reliance on imported products while likewise developing jobs for both nationals and homeowners.
As one of the world's leading 20 economies, the UAE has 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 flows into the UAE reached approximately US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, putting the UAE 2nd globally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) invited 665 new business, marking its finest 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 companies went beyond 24,000.8 Likewise, the Jebel Ali Free Zone supports nearly 800 production companies with customized facilities, exceptional logistics, and over 100 tailored projects.
Its tactical place at the crossroads of Europe, Asia, and Africa, provides smooth connection to worldwide markets, which makes it possible for efficient circulation of products to a large range of clients and end-users. Even more, 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 appealing area for developing production bases.
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