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Crown Prince Announces “Al-Alat Company Launch

Al-Alat-Electronics

Today, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud announced the launch of Al-Alat Company.

The new company is expected to play a pivotal role in the Kingdom of Saudi Arabia. It will create job opportunities, serve local and global markets, promote the private sector as well as stimulating the economy of the Kingdom which strives to stop reliance on oil.

Al-Alat Company will work in tandem with other important entities in KSA such as Public Investment Fund (PIF) to establish the Kingdom as a hub for sustainable enterprises centered around electronics and cutting-edge technology.

 

The Crown Prince announces the launch of “Al-Alat” Company as a global center for electronics
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud

Al-Alat Company

 

Al-Alat Company, whose Board of Directors is chaired by His Highness the Crown Prince, intends to enhance the capabilities of the technical sector in the Kingdom.

Additionally, Al-Alat Company is mainly concerned with manufacturing products that serve local and global markets. It includes seven strategic business units: advanced industries, semiconductors, smart home appliances, smart health, and smart electronic devices.

Aspirations of Al Alat Company

Also, the company aspires to manufacture products that serve local and global markets in 7 strategic areas as
well as creating a new generation of infrastructure.

Innovation and Creativity

In addition, Al-Alat Company will strive to advance innovation and manufacturing in the Kingdom, raise research and development efforts, in addition to localizing expertise in the industrial and electronics sectors.

 

Electronic Revolution

Conversely, Al-Alat Company represent an electronic revolution in the field of technology in the Kingdom and will be adopted as an attractive firm for more investments and financial flows.

 

Bright Future

Furthermore, through collaborations and the provision of clean energy-based, sustainable industrial solutions in the Kingdom, the company will play the role of enhancing the global transformation of the industrial sector.

Accordingly, Al-Alat Company will provide more than 39,000 direct job opportunities in the Kingdom. Its direct contribution to the non-oil gross domestic product is expected to reach 35 billion riyals by 2030.

The new company will form strategic alliances with top electronics and innovative industries businesses. It will also enable the private sector and promote both the local economy and the region at large.

 

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