Alat, Saudi Arabia’s global hub for Electronics & Advanced..

Alat, Saudi Arabia’s global hub for Electronics and Advanced industries

 

Alat, KSA’s new global hub for Electronics and Innovative Industry cluster : Mohammed bin Salman, the Crown Prince, Prime Minister, and Chairman of the Board of Directors of the Public Investment Fund (PIF) of Saudi Arabia, announced on Thursday the launch of the Alat company. Trending : Average lifespan in Saudi Arabia increased to 77.6 years

The goal of the company is to help the Kingdom of Saudi Arabia to make a world center for electronics and advanced innovative industry cluster. By the year 2030, the new company plans to create 39,000 direct jobs and adding $9.3 billion (35 billion Saudi Riyals ) to Saudi Arabia’s non-oil GDP.

– It is believed that the Public Investment Fund (PIF) company will become a national champion and contribute to achieving the goal of making Saudi Arabia a world center for environmentally friendly manufacturing of advanced technologies and electronics.

– Within seven key strategic business units, Alat, the new company will focus on making products for both local and international markets. These include advanced industries and semiconductors, smart appliances, smart health, smart devices and smart buildings, and next generation infrastructure.

– The Saudi Crown Prince, Mohammed bin Salman leads the company, which goals are to improve the Saudi technology sector’s abilities, boost local content by taking advantage of the sector’s fast growth, and make the country more appealing and better able to create investment opportunities. Most Viewed : Procedure to cancel exit re-entry visa in Saudi Arabia

– Through the company’s strategic partnerships with key international players in manufacturing and technology, Alat will also help the private sector. This will improve the local and regional economy.

– By using clean energy sources to power long-lasting industrial solutions, the Alat company will form relationships that will help the world’s industrial sector change.

– These partnerships will help meet business needs, keep up with the needs of the next generation of manufacturers, make local supply lines stronger, and help make Saudi Arabia a world hub for manufacturing high-tech products.

– Alat establishment will make more than 30 types of products that will be used in important areas like Robotic systems, communication systems, high-tech computers and digital entertainment products are a few examples. Other examples are heavy machinery (equipment) used in mining, construction, and building. Recommend : Saudi Arabia to open its first liquor store in 72 years for non-Muslim diplomats

– The Alat company wants to improve manufacturing, research and development, and innovation. They also want to bring knowledge from other countries into the electronics and industrial sectors by creating more jobs and developing local talent.

– To meet its goal of being carbon neutral by the year 2060, Alat will focus on offering sustainable manufacturing solutions to companies around the world by using clean energy resources in the Kingdom of Saudi Arabia. Public Investment Fund, on the other hand, wants to be carbon neutral by the year 2050.

– These multinational businesses will also be able to take advantage of the competitive advantages that the Saudi economy have, with its unique location, and its investments in the technology sector offer.

– Setting up Alat company fits with PIF’s plan to grow in key areas while also making local supply chains stronger. This will help the economy become more diverse and grow steadily, as outlined in the Saudi Vision 2030. Like and Follow Saudi Expatriates Facebook page