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Other sectors are also being progressively stressed to advance the nation's decarbonization objectives 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 build a more diversified and sustainable economy, reducing reliance on imported goods while likewise producing tasks for both nationals and locals.
As one of the world's leading 20 economies, the UAE has actually protected a leading position in foreign direct investment (FDI) inflows within the area. 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 internationally in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) invited 665 new companies, marking its finest very first quarter in over twenty years, with considerable registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's total number of companies surpassed 24,000.8 Likewise, the Jebel Ali Free Zone supports almost 800 production companies with tailored infrastructure, excellent logistics, and over 100 tailored tasks.
Its strategic place at the crossroads of Europe, Asia, and Africa, uses seamless connectivity to global markets, which makes it possible for effective 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 variety of free trade agreements with streamlined, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive place for establishing production bases.
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