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Other sectors are likewise being increasingly stressed to advance the nation's decarbonization objectives 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 develop a more diversified and sustainable economy, lowering dependence on imported products while also creating tasks for both nationals and citizens.
As one of the world's top 20 economies, the UAE has actually secured a leading position in foreign direct financial 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 around US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, positioning the UAE second worldwide in FDI inflows.
Evaluating Industrial Strategy Frameworks across the GCCIn 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 new companies, marking its best 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 surpassed 24,000.8 Similarly, the Jebel Ali Free Zone supports almost 800 manufacturing companies with tailored facilities, outstanding logistics, and over 100 personalized tasks.
Evaluating Industrial Strategy Frameworks across the GCCIts strategic area at the crossroads of Europe, Asia, and Africa, offers smooth connection to global markets, which makes it possible for effective circulation of products to a wide variety of consumers and end-users. Even more, the UAE's strong logistics and infrastructure, absence of trade sanctions, and a growing variety of totally free trade arrangements with structured, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive area for developing manufacturing bases.
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