Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 7 hours, 20 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Fares buys 50% shares of ‘Tawseel Delivery Services’
July 08, 2018
 Print    Send to Friend

SHARJAH: The UAE-based, Fares Foundation for General Trading, which specialises in logistics and distribution through land, air and sea, has acquired 50 per cent shares of Tawseel Delivery Services, a Sharjah-based food delivery service.

As per the acquisition agreement signed by the two parties, Fares will increase the number of its fleet of delivery vehicles, enabling Tawseel to provide faster services to customers and expand to new markets in the UAE and the region.

Mohamed Al Musharakh, Founder and CEO of Tawseel, commented, “I would like to thank the Sharjah Entrepreneurship Centre (Sheraa), which played a vital role in the establishment and success of Tawseel as well as many other start-ups and SMEs in Sharjah. Sheraa’s role is fundamental to fostering entrepreneurship among young investors in Sharjah, and to providing them with the knowledge and expertise to run their businesses successfully.

“Acquisitions are among of the most significant processes that enhance business development, with companies merging their experiences and expertise to deliver quality services and products to their clients. An acquisition is also a means to enhance the competitiveness and sustainability of companies under open market policies.

“This acquisition is an acknowledgement of our Tawseel’s commitment to excelling in delivery and logistics by attracting the expertise of the best in the field. We are confident that the move will develop our role and share in markets across the UAE and the region. It is a qualitative move, which we hope to leverage to expand our access to global markets.”

Statistics from the Ministry of Economy, MoE indicate that by 2021, start-ups and SMEs will make up 70 per cent of the UAE’s Gross Domestic Product, GDP.

Sarmad Zadjali, Co-founder of Tawseel, said, “The investors’ great interest in the customer service sector indicates their confidence in Sharjah’s business environment in all sectors that maintain a high growth rate. Tawseel has become an inspiring model for those who wish to establish their businesses, enhancing the spirit of entrepreneurship, innovation and creativity among investors.”

WAM

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
DBWC, Serbia to enhance economic relations
DUBAI: The Dubai Business Women Council (DBWC) held a meeting to discuss ways to enhance the economic relations between business women of Dubai and Serbia, and enact join..
Gulftainer, ATCUAE to facilitate cargo transit
SHARJAH: Momentum Logistics (Momentum), the logistics division of Gulftainer, the world’s largest privately owned independent port operator and logistics company, based i..
UAE, Canada to deepen trade ties in various key sectors
ABU DHABI: Suhail Al Mazrouei, Minister of Energy and Industry, has visited Calgary in Canada’s western Province of Alberta from July 8th-11th, to attend the inaugural Ca..
DLD, DP join hands to support real estate
DUBAI: The Dubai Land Department (DLD) has announced a strategic partnership with Dubai Properties (DP), a member of Dubai Holding, to promote Dubai’s real estate sector...
UAE automobile sector beaming with optimism
DUBAI: With the on-set of 2018, the UAE’s vibrant automobile sector has witnessed a paradigm shift. The industry is beaming with optimism and positive indicators of anoth..
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright