Saudi Arabia Tourism Fund supports building Haichang Ocean Park in the Kingdom
Saudi Arabia’s Tourism Development Fund (TDF) is supporting the building of China’s marine themed park - Haichang Ocean Park - in the kingdom.
According to a filing with the Hong Kong exchange on Friday and as reported in SCMP, Hong Kong-listed Haichang Ocean Park, which operates six parks in mainland China, has signed a non-binding agreement with the TDF.
Amid a climate of growing political and economic links between the two nations, Haichang Ocean Park is to develop theme parks, waterparks and social entertainment centres in Saudi Arabia.
The collaboration between the Ministry of Investment and Haichang Ocean Park is strategic development of Saudi Arabia's Vision 2030, which aims to diversify the country's economy and promote tourism as a key driver of growth.
TDF, which was established in 2020 and has capital of US$4 billion, will help to identify potential sites for the project, which is part of the kingdom’s vision to attract 100 million visitors by 2030 and to boost the tourism sector’s contribution to the economy to 10%.
In April, Haichang signed a memorandum of understanding (MOU) with Saudi that clinched a deal for it to become the first ocean park brand and service industry provider from China to enter the Saudi Arabia.
As reported in SCMP, Qu Naijie, executive director and Chief Executive of Haichang noted“The board is of the view that the cooperation marks significant progress in the group’s benchmark project for ‘going global’ … and is of strategic significance in the company’s internationalisation process.
“The cooperation will integrate the advantageous resources of both parties and help the group to establish an international brand, and to build a worldwide leisure and entertainment platform featuring marine culture.”
Under the agreement signed in April, Haichang will develop various forms of entertainment venues, such as family entertainment centres, water parks, IP themed parks, zoos and safari parks in various Saudi cities.
The Ocean parks are anticipated to have animal performances, and other recreational facilities.
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