The Ministry of Economy announces the joining of “KRUSH Brands” to the initiative… and continues to work with its strategic partners to attract more companies to the state

initiative”Next GenForeign investment attracts new pioneering companies

>> Al Zeyoudi: The “Next Generation” initiative aims to achieve the state’s vision by promoting investment in the new economy sectors… and joint efforts to establish and facilitate digital businesses in the country support

The company will move its global headquarters to the UAE and create 700 new jobs within two years

Next Generation FDI is a pioneering program in the UAE aimed at attracting global technology companies to the country’s markets

Abu Dhabi: The Ministry of Economy announced the joining of one of the first companies to the “next generation” initiative of foreign investment, “KRUSH Brands” specialized in food technology, three weeks after the ministry launched this global initiative in partnership with seven strategic partners launched. represents the most important national institutions in the world UAE. The company will move its global headquarters to the UAE, aims to triple its growth by creating 700 jobs within two years and will move its technology arm from Europe to the UAE.

In this regard, his Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said: “The “Next Generation” initiative comes in support of the UAE’s vision to improve the attractiveness of investments in the new economic sectors, and in a way that consolidates the country’s efforts to build a successful economic model based on innovation and knowledge. The Ministry of Economy continues to work through this initiative in collaboration with its strategic partners to attract new companies to the UAE markets and the business and projects to support system in the future sectors, in light of the wise leadership’s directives, in accordance with the goals and principles of the fifty, and in a way that contributes to the consolidation of the UAE’s position as a leading global investment center.” .

His Excellency added: “Today we see a new step in the “Next Generation” initiative with the joining of “KRUSH Brands”, which sees the UAE as the right place for sustainable growth and expansion of the business of digitally enabled companies, such as the state are keen to provide all means of support needed to make establishing businesses Digitally in the UAE easier and more efficient, and we look forward to seeing the joining of more companies and stakeholders in the coming period to announce.”

The Next Generation FDI initiative offers many incentives for digital companies, such as speeding up business setup processes, facilitating banking readiness, simplifying visa issuance procedures and offering attractive options for commercial and residential real estate. The initiative is a foreign direct investment to complement parallel government schemes such as the National Program for Programmers, which offers golden visas to 100,000 programmers.

The Ministry of Economy, together with other stakeholders, will support KRUSH Brands’ journey by providing practical support that includes introducing it to potential strategic partners in aviation, hospitality, real estate and retail. It represents an integration of efforts between the Ministry and other stakeholders to improve value chains and develop the digital business ecosystem across the country.

Ian Ohan, Founder and CEO of KRUSH Brands said: “This is a definite win for us and gives us an important opportunity to build our technology company into a world-class digital economy here in the UAE. This is an important milestone in the evolution of KRUSH Brands as we focus on accelerating our own technologies and brands.We are proud to be one of the founding members of the Next Generation FDI program and to contribute to the growth of the UAE’s Digital Economy.”

KRUSH Brands has succeeded in creating an efficient mechanism for economically sustainable delivery and is the only fully integrated digitally enabled multi-channel food and beverage company in the region. It has proprietary food technology, operates its own food and beverage brands and has a professional and ethical delivery fleet. Its unique business model provides an economically sustainable and profitable ecosystem for innovative local food entrepreneurs to thrive and connect with the communities in which they operate.

The company recently launched Locale, its curated online marketplace for local favorite food brands. Locale is about quality food, ideas and people. By not seeking profit from delivery, technology or advertising, Locale aligns its interests with food entrepreneurs, customers and employees by focusing on making money from food.

The company also played an integral role during the Covid pandemic in supporting local food entrepreneurs in the UAE. Locale allows customers to order directly from brands; With the option to combine several products from different brands in one order.

The company is among the first to join the Next Generation FDI initiative, which aims to attract leading digitally-enabled companies and exceptional technology talent, including software developers, data scientists, programmers and digital entrepreneurs. The national initiative aims to improve the UAE’s digital system and accelerate plans to diversify the UAE’s economy based on knowledge.

A new group of technology companies, entrepreneurs and strategic partners for the Next Generation FDI initiative will be announced in the near future. With more companies and stakeholders joining, the initiative will boost the UAE’s growing digital economy and help empower the UAE in the next 50 years.

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Notes to editors

  • The Next Generation FDI initiative targets nearly 300 digitally-enabled companies and aims to attract skilled programmers, data scientists and technology engineers within the next three years.
  • The initiative offers fast-track services such as the granting of licenses from partner-free zones, golden visas for highly skilled professionals, affordable accommodation, office space and express banking services.
  • Seven strategic partners, including the Dubai International Financial Centre, Abu Dhabi Global Market, Dubai Internet City, Dubai South, DMCC, Wio and Emirates NBD, have joined under the first phase of the initiative, with more expected to join. second phase.
  • Companies can find more information about the Next Generation FDI initiative at: https://www.moec.gov.ae/en/nextgenfdi

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