China and Image Abu Dhabi Is Involve In The $300 Million Film Fund Pact
The Intercontinental Communication Center (CICC) backed with the government of China and the Image Nation Abu Dhabi had forged partnership to set up $300 million fund to invest in movies and TV content produced in Hollywood, the United Arab Emirates, China and other countries.
The Image Nation Abu Dhabi has a long term relationship in Hollywood with Ashok Amritraj's Hyde Park and Walter Parkes and Laurie MacDonald's Parkes/MacDonald shingles.
They had recently hired Hollywood producer Derek Dauchy, the former president of Davis Entertainment to become the advisor of the fund and will be base in Los Angeles.
The said agreement was signed and announced in Abu Dhabi by the Image Nation Chairman Mohammad Al Mubarak, Garin, CICC Deputy Director Jing Shuiqing and UAE Ambassador to China Omar Al Bitar.
The CICC executive said in a statement that it is their belief that the partnership between the CICC and Image Nation will become a model for cooperation between Chinese and Arab media organizations.
The CICC is the first Sino-foreign financial institution which is established in China in 1995. Since then, they have forged rapports with over 70 media companies in more than thirty countries which includes NBC and National Geographic in the US, ITV in UK and Arte in France.
The CICC and Image Nation pact also includes joint production of a China-focused factual entertainment that will air 22 across the Middle East an North Africa on the Quest Arabiya channel which is also co-owned by the Image Nation and Discovery Communications and also a training program for young Emirati and Chinese film and TV executives for the to learn about their respective cultures and media industries.
From the launch of a $10 million strategic investment fund by China and the United Arab Emirates in December 2015, extending that rapport into the media industry which the Image Nation is growing from scratch in the UAE.