Cross-border joint ventures fail more often than they succeed. The failures rarely have a single cause; they accrete from a series of mismatched expectations, unclear governance and the gradual realisation that the partners wanted different things from the venture all along.
What survives is usually built on three foundations: a shareholder agreement that names the awkward scenarios before they happen; a governance model that allows for genuine disagreement without paralysis; and a leadership team trusted by both sides to call the in-between moments honestly.
At WPA we have facilitated and advised on ventures across the GCC, Southeast Asia, Africa and Australia. The geography matters less than the discipline. The best partnerships we have seen invested heavily in structure before launch, and then ran light, with clear lines of authority and minimal posturing.