Jinwu Financial News | Haichang Ocean Park (02255) announced that the Group recently signed a non-legally binding Memorandum of Cooperation with the Saudi Arabian Tourism Development Fund (TDF) and plans to cooperate in developing the Haichang Ocean Park project in the Kingdom of Saudi Arabia in accordance with the Saudi Arabian Tourism Strategy.
According to the terms of the MOU, both parties will (1) discuss and identify viable opportunities for development projects; (2) agree on an appropriate structure for project investment and/or funding; and (3) identify potential plots for project development. TDF will be primarily responsible for studying opportunities to secure funding and/or invest in the project. At the same time, the Group will be mainly responsible for project development and collaborative operation that meets the requirements of the Tourism Development Fund, introducing world-class IP for the project, appointing contractors to carry out project construction, and introducing marine animal resources and proprietary marine technology. As a project development manager, he spearheaded the creation of a world-class, first-of-its-kind integrated marine theme park resort in Saudi Arabia.