Evaluating Industrial Strategy Frameworks within the GCC

Other sectors are likewise being increasingly emphasized 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 aims to construct a more varied and sustainable economy, minimizing reliance on imported products while likewise producing tasks for both nationals and homeowners.

ANSR July GCC PRs 50DR+

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 Development reported that FDI streams into the UAE reached approximately US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, positioning the UAE 2nd internationally in FDI inflows.

In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 new companies, marking its finest first quarter in over twenty years, with considerable registrations from China, India, the UK, Germany, and France. 7 By 2023, the DMCC's total variety of business went beyond 24,000.8 Likewise, the Jebel Ali Free Zone supports nearly 800 production firms with tailored facilities, exceptional logistics, and over 100 tailored jobs.

ANSR July GCC PRs 50DR+

The Benefits of Industrial Growth for the GCC

Its strategic area at the crossroads of Europe, Asia, and Africa, offers seamless connection to global markets, which enables efficient circulation of products to a large range of customers and end-users. Further, the UAE's strong logistics and facilities, lack of trade sanctions, and a growing variety of open market agreements 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.