The Ministry of Investment with Haichang Ocean Park Announced the Planned Development of the First Large-scale Ocean Park in KSA

HONG KONG, April 12, 2023 /PRNewswire/ -- Ministry of Investment of Saudi Arabia and Haichang Ocean Park jointly announced the planned development of the first large-scale ocean park in the Kingdom of Saudi Arabia (KSA).

This came as part of the announcement of the Memorandum of Understanding (MOU) signed by the Ministry of Investment in Saudi Arabia and Haichang Ocean Park, Asia's largest ocean park owner and operator.

In the presence of His Excellency Minister of Investment, Khalid Al-Falih, and Executive Director of Haichang Ocean Park, Mr. Qu Cheng, the MOU was signed by Assistant Deputy Minister, Ammar Altaf, and CEO, APAC of Haichang Ocean Park, Andrew Min-ho Kam during a special ceremony held in Saudi Arabia. The event was attended by key officials and representatives from both parties.

According to the MOU, it is Haichang's plan to leverage its diverse expertise and experience to develop various forms of location-based entertainment venues among KSA's cities, from family entertainment center, water park, IP themed park, to zoo and safari park. These and other major tourism infrastructure to be developed in Saudi Arabia will attract global and local visitors and drive the long term, sustainable growth of the tourism sector.

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. The development of the new ocean parks and resorts is expected to create numerous job opportunities, stimulate local businesses, and contribute to the overall economic development of the region.

Mr. Qu said: "We are honored to be partnering with the Ministry of Investment on this first-of-its-kind landmark development strategy. Our goal is to leverage on Haichang's over 20 years of extensive experiences, coupled with world-renowned IPs, and latest technologies available, to create the entertainment venues including the first world-class ocean park that offers unparalleled comprehensive guest experiences. In addition, it will also serve as an educational platform to promote awareness and importance of ocean conservation. We believe the families of Saudi Arabia and the Middle East will appreciate our unique offering, and we look forward to bringing this world-class experience to the KSA."

Mr. Qu added that under Vision 2030, Saudi Arabia aims to become a major leisure and tourism destination. The vast country and multiple megacities being built throughout the Kingdom provides the ideal foundation for Haichang to develop multiple parks and resorts of different scale. "We envision to partner with sovereign entities and the private sector to develop a number of destinations that best suit different market segmentation", he said.

To achieve its growth strategies, Haichang is working closely with local partners and stakeholders, including the Ministry of Investment and General Entertainment Authority, to identify the right sites for its intended huge projects. With the government's support, Haichang Ocean Park is expected to play a vital role in enhancing Saudi Arabia's tourism industry and promoting the country as a major leisure destination. As Mainland China's only theme park company listed on Hong Kong Stock Exchange, Haichang Ocean Park Holdings is well positioned to bring its expertise and experience to the development of Saudi Arabia's tourism industry.

About Haichang Ocean Park:
Haichang Ocean Park has been recognized as a leader in the industry, having won numerous awards for its innovative approach and commitment to sustainability. It is renowned for its world-class entertainment offerings, featuring a combination of marine life exhibits, thrilling rides, and immersive experiences that provide visitors with a unique and unforgettable adventure and a chance to explore the wonders of the ocean.

Haichang currently owns and operates 6 parks, among cities of Dalian, Yantai, Shanghai, Chongqing, and Sanya.  In addition, it has also licensed its brand to 4 other parks. The Shanghai park is under its Phase Two expansion. And a new ocean park will soon be open in Zhengzhou this year. In addition, Haichang is expanding its scale through developing network of Haichang Aquarium and Discovery Center in China. This new line of business will reach 50 venues by the end of the year.

In addition to Saudi Arabia, Haichang also plans to expand its operations in Southeast Asia. The company aims to develop world-class marine-life theme parks that offer visitors an immersive experience of the ocean and its inhabitants, while also showcasing the culture, traditions, and environment of the region.