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Experts: Saudi PIF’s Alat to Explore New Opportunities in Modern Sectors

Alat specializes in manufacturing products within seven strategic business units, including Advanced Industries (SPA).
Alat specializes in manufacturing products within seven strategic business units, including Advanced Industries (SPA).
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Experts: Saudi PIF’s Alat to Explore New Opportunities in Modern Sectors

Alat specializes in manufacturing products within seven strategic business units, including Advanced Industries (SPA).
Alat specializes in manufacturing products within seven strategic business units, including Advanced Industries (SPA).

Saudi Crown Prince Mohammed bin Salman announced on Thursday the launch of Alat - a Public Investment Fund company – with the aim to transform Saudi Arabia into a global hub for sustainable technology manufacturing that focuses on advanced technologies and electronics.
In this regard, experts told Asharq Al-Awsat that the new entity would explore new opportunities in modern sectors, in addition to supporting national companies and enabling them to launch investments in advanced technologies and industries.
Professor of Economics at the University of Jeddah, Dr. Salem Bajaja, stressed that Saudi Arabia would become a pioneer in the manufacture of electronics, by providing sustainable industrial solutions that rely on clean energy sources and meet the future needs of the sector.
Bajaja added that the Alat Company would be able to create more job opportunities in the local market, which would reduce the unemployment rate, pointing that the Kingdom enjoyed all the success ingredients to develop the advanced technologies and electronics sector.
He also emphasized that Alat would in turn explore untapped opportunities in this promising field to reach its desired goals.
Alat will work on manufacturing products that serve local and international markets within seven key strategic business units: advanced industries, semiconductors, smart appliances, smart health, smart devices, smart buildings, and next generation infrastructure.
The company, chaired by the crown prince, aims to enhance the capabilities of the Saudi technology sector, increase its contribution to local content, and raise the country’s attractiveness and its ability to create investment opportunities.
According to Bajaja, the launching of the new company keeps pace with the global evolution of Information Technology, which would contribute to transforming Saudi Arabia into a leader in electronics and open new horizons for the private sector and increase its contribution to the country’s GDP.
For his part, Economic Expert Ahmed al-Jubeir said: “It is important to rely on clean energy in the work of the new company, which focuses on modern industries, with the aim to meet the Kingdom’s directions in the next stage in creating promising investment opportunities.”
Al-Jubeir noted that Alat will have a positive impact on the national economy and will stimulate the private sector to invest in new industries and forge partnerships with the PIF.
Moreover, the new products that will be manufactured through Alat will raise the competition levels and will reflect on the prices in the local market, he said, noting that the new company will also help generate new job opportunities and develop human capabilities in these fields.
Alat will focus on manufacturing in more than 30 categories that serve vital sectors, mainly robotic systems, communication, advanced computers, digital entertainment products, and advanced heavy equipment used in construction, building and mining.
The new company 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.

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Experts Say US Partnership to Boost Saudi Economy to $2.6 Trillion

Photo shows President Trump and the Saudi Crown Prince with companies signing investment deals at the Saudi-US Investment Forum (Asharq Al-Awsat)
Photo shows President Trump and the Saudi Crown Prince with companies signing investment deals at the Saudi-US Investment Forum (Asharq Al-Awsat)
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Experts Say US Partnership to Boost Saudi Economy to $2.6 Trillion

Photo shows President Trump and the Saudi Crown Prince with companies signing investment deals at the Saudi-US Investment Forum (Asharq Al-Awsat)
Photo shows President Trump and the Saudi Crown Prince with companies signing investment deals at the Saudi-US Investment Forum (Asharq Al-Awsat)

Saudi Arabia’s signing of a strategic economic partnership with the United States marks a major shift in the Kingdom’s economic trajectory and reinforces its ambitions to become a top-12 global economy with a GDP target of $2.6 trillion, economic experts said.

The agreement was signed on Tuesday at the Al-Yamamah Royal Palace in Riyadh in the presence of Crown Prince and Prime Minister Mohammed bin Salman and US President Donald Trump. A series of deals and memoranda of understanding were also inked during the ceremony.

Mohammed Duliem AlQahtany, an economics professor at King Faisal University, told Asharq Al-Awsat the agreement represents a long-term strategic move that will reshape bilateral ties. “This partnership ushers in a new phase of comprehensive cooperation,” he said, citing its focus on security, energy, space, environment, health, and scientific research. “It’s a multi-dimensional framework that positions Saudi Arabia as a credible and capable global partner for the United States.”

AlQahtany added that the agreements support the Kingdom’s drive to diversify its economy away from oil and toward innovation and technology. The move is central to Riyadh’s plans to localize key industries, boost non-oil exports, reduce imports, and strengthen the trade balance.

He said the initiatives are also aligned with Saudi Arabia’s vision of becoming a major logistics hub connecting key global economies and continents.

Newly signed Saudi-US agreements in energy, defense, and mining are expected to accelerate the Kingdom’s transformation into a global industrial and technological power while bolstering environmental protection and national security, the Saudi economist said.

AlQahtany also said the energy sector deals will enhance efficiency and environmental sustainability by deploying advanced technologies for carbon capture and emissions reduction, a major challenge in the global energy transition.

He added that agreements in the mining sector could position Saudi Arabia as a key global player in an industry he described as “the future of industrial development.” The deals aim to localize supply chains, foster innovation, and help Saudi mining companies scale up to compete internationally in the coming years.

On the defense front, Al-Qahtani said the agreements would modernize the Kingdom’s defense systems through advanced US technologies, strengthening regional deterrence and deepening the Saudi-American alliance.

Additional agreements focus on emerging technologies such as artificial intelligence, space exploration, and advanced scientific research, he noted. They also aim to build human capital, improve customs data exchange, and promote collaborative medical research.

AlQahtany said the broader partnership also seeks to showcase Saudi Arabia’s cultural heritage, particularly the historical treasures of AlUla, on the global stage, while promoting biodiversity and environmental protection across the Kingdom.

The recently signed Saudi-US agreements represent a comprehensive model of strategic partnership that spans security, economy, technology, and culture, reflecting a shared vision to deepen cooperation in areas central to Saudi Arabia’s Vision 2030, a senior executive said.

Mohamed Omar, CEO of G.WORLD, told Asharq Al-Awsat that the Trump administration is actively forging new alliances in the region to advance its strategic goals, with Saudi Arabia playing a pivotal role due to its economic strength and growing regional and global influence.

“These agreements go far beyond traditional security and energy ties,” Omar said. “They encompass diverse sectors including conventional and renewable energy, defense, space, health, culture, mining, industry, trade, and transport, forming the foundation of a knowledge-based, diversified economy.”

He noted that the energy deals will enhance sectoral security and support the green transition, while cooperation with NASA and American research institutions will facilitate technology transfer and innovation, boosting local capabilities.

Omar said the defense agreements aim to modernize Saudi Arabia’s military systems and expand domestic manufacturing, reinforcing the Kingdom’s local defense industry.

He also highlighted efforts to develop the tourism and heritage sectors, particularly through AlUla projects, as part of a broader push to establish Saudi Arabia as a global cultural destination.

“These agreements will attract foreign investment in critical sectors such as mining, space, and clean energy, all of which are vital for income diversification,” he said. “They will also create job opportunities in high-tech, military, and research fields, while helping to develop national talent.”

Omar described the partnership as a “transformational leap” in Saudi-US relations - one that moves beyond traditional models to embrace a forward-looking, innovation-driven alliance that strengthens Saudi Arabia’s status as a regional economic and scientific powerhouse.