Saudi Crown Prince launches ‘Alat’ to
In a move to position Saudi Arabia as a global hub for
electronics and advanced industries, His Royal Highness Prince Mohammed bin
Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the
Board of Directors of the Public Investment Fund (PIF), officially launched
"Alat." This PIF company is dedicated to becoming a national champion
in sustainable technology manufacturing, with a particular emphasis on advanced
technologies and electronics.
Alat will play a crucial role in advancing innovation and
manufacturing in Saudi Arabia, supporting research and development, and
promoting the localization of knowledge. Chaired by HRH Crown Prince, the
company will focus on seven key strategic business units, including advanced
industries, semiconductors, smart appliances, smart health, smart devices,
smart buildings, and next-generation infrastructure.
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The strategic vision of Alat is to enhance the capabilities
of the Saudi technology sector, increase its contribution to local content,
attract investments, and create opportunities for the private sector. Through
strategic partnerships with leading international players in manufacturing and
technology, Alat aims to strengthen the economic ecosystem both locally and
regionally.
With a commitment to sustainable practices, Alat will
manufacture a diverse range of products, including robotic systems,
communication systems, advanced computers, digital entertainment products, and
heavy machinery for construction, building, and mining. The company anticipates
creating 39,000 direct jobs in Saudi Arabia by 2030 and aims for a direct
non-oil GDP contribution of $9.3 billion by the same year.
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Furthermore, Alat will focus on providing sustainable
manufacturing solutions for international companies by leveraging clean energy
resources in Saudi Arabia. This initiative aligns with the broader goals of the
Public Investment Fund, aiming for carbon neutrality by 2050, and contributes
to Saudi Vision 2030's objectives of economic diversification and sustainable
growth. The establishment of Alat reflects PIF's strategic commitment to
prioritize key sectors and strengthen local supply chains.
Source: Zawya
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