Ain Alalam – Rashad Iskandrni<\/p>\n
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His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister of the Kingdom of Saudi Arabia and Chairman of the Board of Directors of the Public Investment Fund (PIF), announced today the launch of \u201cAlat\u201d: 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.
\nAlat 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.
\nThe company, chaired by HRH Crown Prince, aims to enhance the capabilities of the Saudi technology sector, increase its contribution to local content \u2013 benefiting from the rapid development of this sector \u2013 increasing the nation\u2019s 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, which will enhance the economic ecosystem locally and regionally.
\nThe company will build partnerships to enable the transformation of the industrial sector globally, by providing sustainable industrial solutions based on clean energy sources. These partnerships will help meet commercial demand, keep pace with the needs of the next generation of manufacturing, enhance the strength of local supply chains and contribute to making Saudi Arabia a global center for advanced technological manufacturing.
\nAlat will manufacture more than 30 product categories that will serve vital sectors. These include robotic systems, communication systems, advanced computers and digital entertainment products, as well as advanced heavy machinery used in construction, building and mining.
\nThe company aims to strengthen innovation, manufacturing and research and development, and localize expertise in the industrial and electronics sectors by developing local talent and enhancing job opportunities. Alat aims to create 39,000 direct jobs in Saudi Arabia by 2030, and achieve a direct non-oil GDP contribution of $9.3 billion by the same year.
\nAlat will focus on providing sustainable manufacturing solutions for international companies by accessing clean energy resources in Saudi Arabia to reach carbon neutral goals by 2060 \u2013 PIF\u2019s own goal is to be carbon neutral by 2050 \u2013 in addition to enabling those global industrial companies to benefit from the competitive advantages of the Saudi economy, its unique geographical location and its investments in the technology sector.
\nThe establishment of Alat aligns with PIF\u2019s strategy to expand in sectors that are priorities, while strengthening local supply chains to enable economic diversification and sustainable growth \u2013 in line with Saudi Vision 2030.<\/p>\n[\/mhc_text][\/mhc_column][mhc_column type=”2_3″][mhc_image admin_label=”\u0635\u0648\u0631\u0629” show_in_lightbox=”off” url_new_window=”off” animation=”right” hoverfx=”none” sticky=”off” image_mask=”off” border_radius=”0″ align=”right” force_center_on_mobile=”on” src=”https:\/\/ainalalam.com\/wp-content\/uploads\/2024\/02\/WhatsApp-Image-2024-02-03-at-8.11.10-PM.jpeg”] [\/mhc_image][\/mhc_column][\/mhc_row][\/mhc_section]\n","protected":false},"excerpt":{"rendered":"
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