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Other sectors are likewise being increasingly stressed to advance the country's decarbonization objectives following the 28th Conference of the Parties (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 diversified and sustainable economy, decreasing dependence on imported goods while also creating tasks for both nationals and residents.
As one of the world's top 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 Advancement reported that FDI flows into the UAE reached approximately US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, placing the UAE second worldwide in FDI inflows.
Will the GCC Sustain Industrial Growth through 2026?In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 brand-new business, marking its best very first quarter in over twenty years, with substantial registrations from China, India, the United Kingdom, Germany, and France. 7 By 2023, the DMCC's overall variety of business exceeded 24,000.8 Likewise, the Jebel Ali Free Zone supports almost 800 manufacturing companies with customized infrastructure, outstanding logistics, and over 100 personalized projects.
Will the GCC Sustain Industrial Growth through 2026?
Its strategic place at the crossroads of Europe, Asia, and Africa, provides smooth connectivity to worldwide markets, which makes it possible for effective distribution of products to a wide variety of customers and end-users. Further, 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 attractive location for developing production bases.
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