HRH Crown Prince launches ‘Alat’ to contribute in making Saudi Arabia a global hub for electronics and advanced industries

HRH Crown Prince launches ‘Alat’ to contribute in making Saudi Arabia a global hub for electronics and advanced industries

 ??????Alat will contribute to advancing innovation and manufacturing in Saudi Arabia and support research and development efforts and localization of knowledge by developing local talent and enabling the private sector. RIYADH: 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), announced today the launch of “Alat”: a PIF company, to create a national champion that will contribute to the aim 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: advanced industries and semiconductors, as well as smart appliances, smart health, smart devices and smart buildings, in addition to next generation infrastructure. The company, chaired by HRH Crown Prince, aims to enhance the capabilities of the Saudi technology sector, increase its contribution to local content – benefiting from the rapid development of this sector – 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 technology,