According to reports in Chinese local media, Didi Chuxing and Symphony investment fund signed a strategic cooperation agreement to establish an innovation industry partnership which will benefit the Middle East and China and the two parties will work together to deploy Internet business ecology in the Middle East and North Africa.
Meanwhile, Abu Dhabi's investment organization Mubadala is considering joining the strategic cooperation to cooperate with Didi and other important investors to promote the innovation cooperation between the Middle East and North Africa region and China.
The parties to the agreement will jointly establish a joint venture which will be headquartered in Abu Dhabi. The innovation industry partnership aims to explore extensive cooperation in the sharing economy and Internet consumption industries in the Middle East and North Africa, so as to promote the improvement of digital business ecology in this region.
Investors of Symphony investment fund include many multinational industrial enterprises in the Middle East and North Africa such as Emaar, a real estate, hotel, entertainment, the e-commerce comprehensive group in Dubai; Noon, the largest e-commerce platform in the Middle East; Aramex, a logistics industrial leader in the Middle East; and Americana, the largest food enterprise in the Middle East.
Those investment organizations said that Didi's big data analysis ability and intelligent traffic operating system, which are developed basing on its experience in China, have been successfully realized in Latin America and Asia Pacific. They would like to work with Didi and more Chinese technology companies to promote resource sharing and introduce China's technical strength and operational advantages to the Middle East and North Africa to stimulate economic potential and innovate regional business forms.