Saudi crown prince launches ‘Alat’ to help turn Kingdom into electronics, advanced industries hub
Saudi Crown Prince Mohammed bin Salman has unveiled a new endeavor named "Alat," a Public Investment Fund-owned company, aimed at establishing Saudi Arabia as a leading hub for electronics and advanced industries.
Alat's mission is to position the Kingdom as a central hub for eco-friendly tech production, emphasizing electronics and cutting-edge technologies.
This initiative seeks to serve both domestic and global markets across seven strategic sectors: advanced industries, semiconductors, smart consumer products, healthcare tech, digital devices, intelligent building solutions, and future infrastructure.
Chaired by the Crown Prince, Alat is set to bolster Saudi's tech sector, augmenting its role in national output, and crafting a competitive investment environment.
With a commitment to sustainability, the company will forge global partnerships to innovate the industrial sector, meet emerging market demands, and reinforce local supply chains, positioning Saudi Arabia as a top destination for tech manufacturing.
The company will produce over 30 types of products catering to essential industries, including robotics, communications, advanced computing, digital entertainment, and heavy-duty machines for construction and mining.
Alat aims to foster innovation, production, and research, and encourage the development of local capabilities and job prospects in the industrial and electronic spheres.
By 2030, Alat is set to create 39,000 local jobs and contribute $9.3 billion to the non-oil GDP. It is committed to furnishing international firms with sustainable manufacturing options powered by Saudi Arabia's clean energy, supporting the country's carbon-neutral objectives by 2060.
Additionally, global companies will have access to the Kingdom's economic benefits, strategic location, and technology investments.
This initiative seeks to serve both domestic and global markets across seven strategic sectors: advanced industries, semiconductors, smart consumer products, healthcare tech, digital devices, intelligent building solutions, and future infrastructure.
Chaired by the Crown Prince, Alat is set to bolster Saudi's tech sector, augmenting its role in national output, and crafting a competitive investment environment.
With a commitment to sustainability, the company will forge global partnerships to innovate the industrial sector, meet emerging market demands, and reinforce local supply chains, positioning Saudi Arabia as a top destination for tech manufacturing.
The company will produce over 30 types of products catering to essential industries, including robotics, communications, advanced computing, digital entertainment, and heavy-duty machines for construction and mining.
Alat aims to foster innovation, production, and research, and encourage the development of local capabilities and job prospects in the industrial and electronic spheres.
By 2030, Alat is set to create 39,000 local jobs and contribute $9.3 billion to the non-oil GDP. It is committed to furnishing international firms with sustainable manufacturing options powered by Saudi Arabia's clean energy, supporting the country's carbon-neutral objectives by 2060.
Additionally, global companies will have access to the Kingdom's economic benefits, strategic location, and technology investments.
