Crown Prince launches Alat to make Saudi global hub for electronics and advanced industries

Crown Prince launches Alat to make Saudi global hub for electronics and advanced industries

RIYADH — Crown Prince, Prime Minister and Chairman of the Board of Directors of the Public Investment Fund (PIF) Mohammed bin Salman announced on Thursday the launch of Alat company that aimed to contribute to making Saudi Arabia a global hub for electronics and advanced industries.

The new company aims to create 39,000 direct jobs and achieve a direct non-oil GDP contribution of $9.3 billion in Saudi Arabia by the year 2030.

The PIF company would become a national champion that will contribute to the objective of making Saudi Arabia a global hub for sustainable technology manufacturing that focuses on advanced technologies and electronics. Alat will focus on manufacturing products that serve local and international markets within seven key strategic business units such as advanced industries and semiconductors, smart appliances, smart health, smart devices and smart buildings, and next generation infrastructure.

The company, chaired by the Crown Prince, aims to enhance the capabilities of the Saudi technology sector, increase its contribution to local content through benefiting from the rapid development of this sector, and increasing the nation’s attractiveness and its ability to create investment opportunities. Alat will also enable the private sector through its strategic partnerships with leading international players in manufacturing and