HONG KONG and SHANGHAI, Feb. 21, 2025 /PRNewswire/ -- Fosun's global operations achieved another milestone. On February 20, during the Abu Dhabi Investment Forum in Shanghai, Fosun International signed a Memorandum of Strategic Cooperation with the Abu Dhabi Investment Office (ADIO). This collaboration aims to drive the expansion of Fosun's subsidiaries into Abu Dhabi and the broader Middle East region, injecting fresh momentum into Fosun's global presence and industrial operations.
Under the agreement, ADIO will provide Fosun with tailored investment support, streamlined market access, and strategic resource connections. These efforts will support Fosun's development in Abu Dhabi's key growth sectors, including healthcare innovation, wealth management, fintech, tourism and Hive City projects. Together, ADIO and Fosun aim to further amplify Fosun's influence across the Middle East.
ADIO enables investors to establish and grow their businesses in the region. It supports market leaders in expanding globally from Abu Dhabi, providing access to a strong partner network and interconnected economic clusters. With tailored guidance and resources, ADIO contributes to sustainable growth and long-term investment in the emirate's dynamic economy.
H.E. Badr Al-Olama, Director General of ADIO, said: "Abu Dhabi continues to attract the world's most prestigious companies, reinforcing the emirate's standing as a globally attractive investment destination. Partnering with Fosun International underscores our commitment to promoting high-impact investments that drive innovation and accelerate Abu Dhabi's economic transformation. As one of China's most reputable conglomerates, Fosun's entry into Abu Dhabi will open new avenues of collaboration across diverse industries, further advancing the emirate's vision of robust sustainable economic growth."
According to the agreement, Fosun will collaborate with ADIO to enhance Abu Dhabi's efforts to attract global investors and family offices, in addition to supporting the development of ADIO's economic clusters.
In addition, Fosun's key members in the financial and technology sectors—Fosun Wealth Holdings and Finloop—are actively engaging with relevant institutions in the Middle East to explore cooperation opportunities in wealth management and fintech. These efforts aim to further support Abu Dhabi in building a world-class investment ecosystem.
Wilson Jin, Senior Vice President of Fosun International, commented: "Abu Dhabi's strategic location, business-friendly environment and world-class regulatory framework make it the ideal hub for Fosun's next phase of international growth and scaling our subsidiaries. The partnership with ADIO will allow us to expand our footprint, attract top-tier investors and contribute to the emirate's economic vision."
Strengthening Presence in the Middle East: Fosun's Recent Developments
After more than 30 years of development, Fosun has grown into a benchmark for Chinese private enterprises in global operations. With operations in more than 35 countries and regions, Fosun's industrial ecosystem increasingly demonstrates its synergistic advantages. Under the new economic landscape, Fosun continues to advance its globalization efforts. The Middle East, with its economic vitality and high-growth potential, is gradually becoming a key frontier in Fosun's global operation strategy.
In December 2024, Hainan Mining's wholly-owned subsidiary, Roc Oil, successfully completed the full offer for Tethys Oil AB, acquiring its multiple oilfield blocks in Oman. This transaction not only marks the continued advancement of the company's internationalization strategy, expanding its business operations into the Middle East and enhancing its global operational capabilities, but also provides broader opportunities for future growth.
In November 2024, Fosun Pharma's innovative biopharmaceutical subsidiary, Henlius entered into a strategic collaboration with AL-TIRYAQ AL-KHALAWI Medical Company ("SVAX"). The two parties will establish joint ventures in Saudi Arabia to integrate Henlius' leading capabilities in the research, development, and manufacturing of biologics with SVAX's local expertise in registration, market access, and commercialization. The collaboration seeks to advance the global registration and commercialization of multiple Henlius products and enhance the accessibility of advanced biologics across the Middle East, North Africa, and Türkiye (MENAT) countries, and benefit more patients. In June last year, Henlius' independently developed and produced product, Hanquyou® was successfully shipped to Saudi Arabia, marking the first domestically produced monoclonal antibody biologic drug to enter the Middle Eastern market.
FFT, a global leader in flexible automation production line solutions under Fosun, signed a joint venture agreement with Saudi family business Khaled Juffali Company (KJC) in July 2024. The plan is to establish a commercial technology entity in Saudi Arabia, and collaborate with Shanghai Easun Technology, FFT's parent company under Fosun, to provide automated production line solutions for Saudi Arabia's electric vehicle industry. The joint venture has already secured its first project in Saudi Arabia's automotive sector.
In just six months, Fosun has achieved successive breakthroughs in the Middle East market, spanning multiple sectors including healthcare, energy, finance, and intelligent manufacturing. This string of achievements not only stems from Fosun's unwavering execution of its "globalization" strategy but also demonstrates Fosun's excellent operational capabilities and strong advantages in resource integration. Meanwhile, Fosun's rich experience in the Chinese market and its diversified, synergistic industrial ecosystem have shown Middle Eastern partners the enormous potential for collaboration and shared success.
Fosun International Chairman, Guo Guangchang, stated: "Fosun looks forward to establishing long-term and stable strategic cooperation with more Middle Eastern partners. As a company with global operational capabilities and deep roots in the Chinese market, I believe Fosun is the best strategic partner. With our global operational capabilities and extensive experience, Fosun can achieve sustainable value growth with Middle Eastern partners and create a new win-win ecosystem. "
