The UAE Ministry of Economy has recently announced a strategic partnership with FOODICS, the leading cloud-based restaurant technology and payments platform in the MENA region to foster SME growth locally and globally.
The Ministry and Foodics will together promote mutual exchange and cooperation to support SMEs in the F&B sector with services and products geared to expedite their inception and growth by embracing innovation, adapting new technologies, optimizing corporate strategies and boosting business operations.
As part of the agreement, the two entities will collaborate on several initiatives to support SME growth. Some of these activities will include workshops that will enable selected UAE based F&B enterprises to optimize strategies and business operations, improve supply chain management, boost sales and marketing strategies as well as financial performance. Foodics will also offer exclusive rates and benefits of its products and solutions through the Ministry’s Entrepreneurial Nation platform, and will facilitate industry and market insights to catalyze and ease the growth of the sector and its stakeholders.
Ahmad Al Zaini, FOODICS CEO, commented, “Fostering the growth of the wider entrepreneurial ecosystem has always been part of our company’s DNA, and, today, we are thrilled to be able to extend our efforts to the UAE F&B sector through our collaboration with the UAE Ministry of Economy. I would like to personally thank HE Abdullah bin Touq Al Marri for his inspiring vision and his trust in Foodics, and I look forward to, together, strengthening the UAE’s status as a destination for global business and entrepreneurship in the F&B sector.”
FOODICS is officially recognized by the Saudi Central Bank (“SAMA”) as a FinTech company. Since its inception in 2014, Foodics has successfully processed over 6 billion orders through its platform. It also raised a record US$170 million in its series C funding round, boosting its innovation capabilities to better serve business owners.