What does Alat mean?
The distinctive name “Alat” means “machines” in the Arabic language and is relevant to manufacturing, electronics, and industrials. Alat’s logo is also rooted in Arabic and uses the Salmani pattern, which is symbolic of Saudi Arabia, with the logo comprised of geometric shapes, its design infused with modernity as a contemporary brand for the next generation.
Why has Alat been created?
Alat, funded by Saudi Arabia's Public Investment Fund contributes to Vision 2030, by establishing a global sustainable technology manufacturing hub, to drive transformative economic change and contribute to the decarbonization of electronics and advanced industrials, benefitting not only Saudi Arabia but the world.
What will Alat do for Saudi Arabia?
Alat, a key Vision 2030 initiative established by the Public Investment Fund of Saudi Arabia, aims to diversify Saudi Arabia's economy, create jobs, and elevate manufacturing through tech-driven innovation, powered by clean energy, for a prosperous future.
What makes Alat attractive for foreign companies?
Alat partners with world leading corporations to achieve climate, sustainability, and commercial goals through a multi-billion dollar capital investment. With cutting-edge capabilities, manufacturing best practices and sustainable production, Alat fosters innovative industries for a better tomorrow.
What capital investment will PIF make into Alat?
There will be a US$100 billion investment by 2030.
Does Alat plan to make acquisitions to grow its technology footprint?
We will be making strategic acquisitions, partnerships, joint ventures, and man collaborations to fast track the growth of Alat. Alat already has partnerships in place with global leading technology partners that will accelerate our plans and ambitions.
What technologies will be manufactured?
Alat initially comprises of seven global business units: Smart Buildings, Smart Devices, Smart Appliances, Smart Health, Advanced Industrials, Semiconductors, and Next Gen Infrastructure.
Why is Alat launched now?
Now is the right time for Saudi Arabia. With heavy investments in technology and substantial government spending - set to reach USD 24.7 billion by 2025, the Kingdom is a fast-growing hub for tech companies. Boasting the highest growth rate among G20 nations, a flourishing economy, robust private sector, vibrant startup landscape, and a keen focus on R&D and innovation, Saudi Arabia's conducive environment paves the way for a thriving technology sector.
How will Alat impact the Saudi private sector?
In line with Vision 2030, Alat will forge a dynamic investment landscape, collaborating closely with the Saudi private sector. By fostering new opportunities and partnerships, Alat will empower local businesses to play a pivotal role as suppliers and partners in a global ecosystem.
How many jobs and what impact on GDP does Alat expect to create?
Alat will create over 39,000 direct jobs in Saudi Arabia by 2030 and will contribute USD 9.3 billion to Saudi Arabia’s GDP by 2030.
How does Alat fit into Vision 2030?
Alat, in alignment with Vision 2030, drives innovation and investment, collaborating with Saudi's private sector. With sustainability central to both, Alat propels a new era of development and innovation, championing Vision 2030's strategic objectives of fostering an Ambitious Nation, a Thriving Economy, and a Vibrant Society.