Saudi Arabia is making significant strides in the global semiconductor industry as part of its Vision 2030 initiative. Semiconductors, essential for AI, electric vehicles, and other advanced technologies, are crucial to the Kingdom’s strategy to diversify its economy and reduce reliance on oil.
The $100 billion Alat project, backed by the Kingdom’s wealth fund, aims to develop local semiconductor manufacturing. Partnering with King Abdulaziz City for Science and Technology, the project focuses on talent development and infrastructure.
Experts highlight the importance of semiconductors for economic growth and national security. Saudi Arabia plans to establish at least 50 semiconductor design companies by 2030, supported by a venture capital fund exceeding SR1 billion.
The Kingdom’s proactive approach reflects its ambition to become a key player in the global semiconductor market, enhancing its technological independence and economic future.