The growing business development in the United Arab Emirates presents challenges for the country.

For example, many of the country’s nascent enterprises are competing to not only hire top talent but to keep them from leaving for other positions available in the boom economy.

To meet these needs, Foundation Holdings and Bloom Holding have joined forces to launch Innovative Workforce Solutions, a company that will help the UAE’s health care, education and consumer industries prevail through the current growth phase.

The two companies announced the new firm Feb. 27, underwritten by a $272 million investment they hope to recover in an IPO in the next three to five years.

The firm will help businesses with recruitment while managing the costs of benefits and regulatory compliance.

In the press release, both CEOs positioned the new venture as a win-win for both firms.

“This new alliance will further enable Bloom Holding to strengthen its brand and position,” Sameh Muhtadi with Bloom Holdings said in an announcemnet. “We look forward to giving our community the resources and environment they need to succeed.”

Foundation Holdings CEO Abhishek Sharma echoed those statements.

“The ground-breaking joint venture is an exciting new chapter for Foundation Holdings," Sharma said. "We will turn the war for talent from one of the biggest challenges into an asset.”