Food technology company Krush Brands is hoping to triple its growth and create 700 jobs in the UAE as it joins a new government initiative that supports digitally-enabled businesses.
The company will also move its technology arm from Europe to the UAE as part of the NextGenFDI initiative, the Ministry of Economy said in a statement on Tuesday.
Krush Brands, which operates multiple food and beverage brands in the UAE, is one of the first businesses to join the programme, which was launched by the ministry last month.
The NextGenFDI initiative offers multiple incentives to digital companies, including faster business set-up processes, banking readiness, simpler visa procedures and attractive commercial and residential real estate options.
“The UAE’s vision aspires to promote FDI [foreign direct investment] flows to the new economic sectors,” Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, said.
“In line with this vision, NextGenFDI is set to cement the country’s efforts in building a successful economic model based on knowledge and innovation.”
The NextGenFDI initiative complements other programmes such as the National Programme for Coders, which is offering golden visas to 100,000 coders.
“We are … committed to offering the necessary support to facilitate the setting up of technology start-ups in the UAE and look forward to welcoming more companies and stakeholders to the initiative in the near future,” Dr Al Zeyoudi said.
The UAE, the Arab world's second-largest economy, is taking various measures to attract more FDI into the country.
The country overhauled its commercial companies' law in 2020 to attract more foreign capital and annulled the requirement for onshore companies to have an Emirati shareholder.
It is also signing new trade deals with different countries to support economic growth.
Krush Brands operates its own brands, including Freedom Pizza, Coco Yogo, Salad Jar, Wildflower and Viking Bageri, among others. The company also has a delivery fleet and recently launched Locale, an online marketplace for its local food brands.
Under the initiative, the Ministry of Economy, along with other stakeholders, will support Krush Brands by offering "practical support" that includes introducing potential strategic partners across aviation, hospitality, real estate and retail, the statement said.
The efforts will “enhance value chains and help develop the digital business ecosystem throughout the country”, it said.
“This is a milestone in Krush Brands’ evolution as we focus on accelerating our proprietary technology, our brands, operations and last mile logistics capabilities to scale with strategic partners in the UAE and across the region,” said Ian Ohan, founder and chief executive of Krush Brands.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
BUNDESLIGA FIXTURES
Friday Hertha Berlin v Union Berlin (11.30pm)
Saturday Freiburg v Borussia Monchengladbach, Eintracht Frankfurt v Borussia Dortmund, Cologne v Wolfsburg, Arminia Bielefeld v Mainz (6.30pm) Bayern Munich v RB Leipzig (9.30pm)
Sunday Werder Bremen v Stuttgart (6.30pm), Schalke v Bayer Leverkusen (9pm)
Monday Hoffenheim v Augsburg (11.30pm)
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
ESSENTIALS
The flights
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes.
Where to stay
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Draw
Quarter-finals
Real Madrid (ESP) or Manchester City (ENG) v Juventus (ITA) or Lyon (FRA)
RB Leipzig (GER) v Atletico Madrid (ESP)
Barcelona (ESP) or Napoli (ITA) v Bayern Munich (GER) or Chelsea (ENG)
Atalanta (ITA) v Paris Saint-Germain (FRA)
Ties to be played August 12-15 in Lisbon
