Saudi Arabia to act as a global hub for electronics manufacturing
The CEO of the newly launched Alat company has highlighted Saudi Arabia's prime suitability as a global hub for technology and electronics manufacturing. The strategic location, abundant resources, and the nation's fervor for technological advancement position it favorably for this role, he noted.
Despite its technological focus, Alat places sustainability at the forefront of its mission. As Saudi Arabia aims for net-zero emissions by 2060, Alat is committed to providing sustainable manufacturing solutions. Leveraging the kingdom's clean energy resources such as solar, wind, and green hydrogen, Alat plans to revolutionize businesses and manufacturing while integrating sustainable practices into its operations, logistics, and infrastructure.
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Alat's CEO, Amit Midha, emphasized the collaboration with the Ministry of Energy to ensure access to clean energy across industrial parks, citing the kingdom's ample resources and talent pool as further advantages. With Saudi Crown Prince Mohammed bin Salman as Alat's Chairman of the Board of Directors, the company is poised to play a significant role in realizing Vision 2030's goals of economic diversification and industrial development.
Aligned with Vision 2030, Alat aims to invest $100 billion by 2030 to bolster the technological sector, create jobs, and contribute to the kingdom's GDP. The company plans to create 39,000 direct jobs and achieve a significant non-oil GDP contribution by 2030, with the support of various government ministries.
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During its official press conference, Alat announced partnerships with global companies such as SoftBank Group, Carrier Corporation, Dahua Technology, and Tahakom, with a focus on sustainable manufacturing and reducing emissions. For example, the joint venture with SoftBank Group aims to establish a fully automated manufacturing hub in Riyadh, with the first factory expected to open in December 2024, contributing significantly to Saudi Arabia's GDP.
Alat's vision encompasses not only technological advancement but also sustainability and economic growth, with the aim of cementing Saudi Arabia's position as a global leader in technology and electronics manufacturing.
Source: Alarabiya
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