Saudi Arabia, officially referred to as the Kingdom of Saudi Arabia (KSA), is the largest country in the Middle East, known for its vast oil reserves. It has over 32 million residents as of 2022.
According to reports, Saudi Arabia plans to diversify its economy and reduce reliance on oil as it announces an investment of $100 billion USD to Alat for the manufacturing of a semiconductor hub. This investment deal will be used to develop semiconductor technology and infrastructure in Saudi Arabia as it aims to become a major player in the global tech landscape. It will also focus on building a skilled workforce, as semiconductors are crucial for national security and industrial growth.
Alat aims to develop sustainable local manufacturing capabilities, using the abundance of green energy resources, address rising domestic demand, and position Saudi Arabia as a leader in semiconductor technology in line with its Vision 2030 initiative.
