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.



Trump Says he 'Couldn't Care Less' if Car Makers Hike Prices Due to Tariffs

President Donald Trump waves to supporters from his limousine as he arrives at Trump International Golf Club, Saturday, March 29, 2025, in West Palm Beach, Fla. (AP Photo/Manuel Balce Ceneta)
President Donald Trump waves to supporters from his limousine as he arrives at Trump International Golf Club, Saturday, March 29, 2025, in West Palm Beach, Fla. (AP Photo/Manuel Balce Ceneta)
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Trump Says he 'Couldn't Care Less' if Car Makers Hike Prices Due to Tariffs

President Donald Trump waves to supporters from his limousine as he arrives at Trump International Golf Club, Saturday, March 29, 2025, in West Palm Beach, Fla. (AP Photo/Manuel Balce Ceneta)
President Donald Trump waves to supporters from his limousine as he arrives at Trump International Golf Club, Saturday, March 29, 2025, in West Palm Beach, Fla. (AP Photo/Manuel Balce Ceneta)

US President Donald Trump said on Saturday he did not warn car industry executives against raising prices as tariffs on foreign-made autos come into force, telling NBC News he "couldn't care less" if they do.

The White House has been preparing to impose new tariffs on a range of consumer goods on April 2, a move that has drawn criticism from international leaders and concerns about potential price increases for consumers.

In the NBC News interview, Trump said his permanent tariffs on foreign-made automobiles would be a boost to US-domiciled factories and was confident the move would lead to increased sales of American-made cars. "I hope they raise their prices, because if they do, people are gonna buy American-made cars," Reuters quoted Trump as saying.

Trump maintained that he would only consider negotiating on the tariffs "if people are willing to give us something of great value."

The tariffs are part of Trump's efforts to promote American manufacturing and reduce the country's trade deficit.

Trump's trade policies have been a key focus of his presidency, with ongoing tensions with major trading partners.