UAE Ministry of Economy partners FOODICS

A strategic partnership between the UAE Ministry of Economy and FOODICS, the leading cloud-based restaurant technology and payments platform in the MENA region, was announced this week. The partnership aims to forge a strong alliance between the public and private sectors in order to promote SME growth both locally and internationally.

Together, the Ministry and Foodics will encourage communication and collaboration in order to support SMEs in the food and beverage industry with services and goods designed to hasten their establishment and growth by embracing innovation, incorporating new technologies, enhancing corporate strategies, and enhancing business operations.

The two parties will work together on a number of initiatives to boost the expansion of SMEs as part of the agreement. Some of these initiatives will involve workshops that will help a small group of UAE-based food and beverage businesses improve their supply chains, sales and marketing tactics, and financial performance. Foodics will promote industry and market insights to stimulate and simplify the expansion of the sector and its players. It will also offer exclusive pricing and benefits of its products and solutions through the Ministry’s Entrepreneurial Nation platform.

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 has received official recognition as a FinTech business from the Saudi Central Bank (“SAMA”). Foodics has successfully processed more than 6 billion orders using its platform since its launch in 2014. Additionally, it increased its innovation capacity to better serve business owners by raising a record $170 million in its series C fundraising round.