Saudi Arabia Launches Alat Company to Propel the Kingdom into Global Electronics
Riyadh, The Gulf Observer: In a significant stride towards economic diversification and technological advancement, His Royal Highness Mohammed bin Salman, the Crown Prince, Prime Minister, and Chairman of the Board of Directors of the Public Investment Fund (PIF), announced the launch of Alat company on Thursday. Alat, a PIF company, is envisioned to play a pivotal role in establishing Saudi Arabia as a global hub for electronics and advanced industries.
The primary objective of Alat is to generate substantial economic impact, creating 39,000 direct jobs and contributing a direct non-oil GDP of $9.3 billion to Saudi Arabia by the year 2030. The company, under the strategic guidance of the Crown Prince, aims to become a national champion, leading the charge towards making Saudi Arabia a global center for sustainable technology manufacturing with a focus on advanced technologies and electronics.
Alat will operate within seven key strategic business units, addressing advanced industries and semiconductors, smart appliances, smart health, smart devices, smart buildings, and next-generation infrastructure. The company, chaired by the Crown Prince, seeks to enhance the capabilities of the Saudi technology sector, increasing its contribution to local content, and bolstering the nation’s attractiveness for investment.
Strategic partnerships with leading international players in manufacturing and technology form a cornerstone of Alat’s approach. These partnerships aim to empower the private sector, foster innovation, and contribute to the economic ecosystem locally and regionally. Alat intends to play a transformative role in the global industrial sector by providing sustainable solutions based on clean energy sources, thus aligning with the broader goals of environmental sustainability.
Alat’s manufacturing portfolio encompasses over 30 product categories serving vital sectors, including robotic systems, communication systems, advanced computers, digital entertainment products, and heavy machinery crucial for construction, building, and mining. The company is poised to strengthen innovation, manufacturing, and research and development, fostering local talent and job opportunities.
A key focus of Alat is to provide sustainable manufacturing solutions for international companies, utilizing clean energy resources in Saudi Arabia to achieve carbon-neutral goals by 2060. PIF, as the parent organization, is committed to its own carbon neutrality by 2050. The establishment of Alat aligns seamlessly with PIF’s strategic vision to expand into priority sectors, fortify local supply chains, and contribute to economic diversification and sustainable growth, in harmony with the Saudi Vision 2030.
