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    MANUFACTURING

    TECH INNOVATION AT HEART OF SAUDI’S MANUFACTURING STRATEGY

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    Saudi Arabia is making significant strides in technological innovation and industrial development. This has been driven by strategic partnerships and initiatives aimed at fostering sustainable growth and economic diversification.

    Several of these groundbreaking collaborations have been unveiled recently, reflecting the kingdom's commitment to emerging technologies and future industries.

    Alat, a Public Investment Fund (PIF) company, launched two new business units, Electrification and AI Infrastructure, to address global demands for artificial intelligence (AI) infrastructure and advancements in electricity grid technology. The Electrification unit will focus on transmission and distribution technologies, renewable energy integration, and gas and hydrogen generation.

    Meanwhile, the AI Infrastructure unit aims to develop essential technology for AI capabilities, including network equipment, servers, and data centre storage. These initiatives align with the global trend towards energy-effcient computing and the adoption of AI technologies across various industries.

    In addition, King Abdulaziz City for Science and Technology (KACST) recently forged strategic partnerships to establish a centre of excellence in AI technologies and bolster the semiconductor industry in Saudi Arabia.

    Collaborations with SenseTime Middle East and Africa and CDT International Limited are poised to enhance AI research, develop semiconductor manufacturing capabilities, and train human resources in electronic chip design. These initiatives underscore KACST's commitment to fostering technological innovation and building local expertise in critical sectors.

    KACST signed a total of 13 local and international partnerships across various domains, including future communications, digital health, robotics, and smart cities. These collaborations aim to accelerate technical development, promote innovation, and empower Saudi Arabia's burgeoning tech ecosystem.

    Partnerships with leading companies such as Cisco, Elm, and Ascend Solutions Ltd. signify a concerted effort to leverage cutting-edge technologies for societal benefit and economic growth.

    KNOWLEDGE ECONOMY

    These strategic partnerships and initiatives signal a transformative shift towards knowledge-based industries and sustainable development in Saudi Arabia. By investing in emerging technologies such as AI, semiconductor manufacturing, and digital health, the kingdom positions itself as a global hub for innovation and technology-driven growth. 

    Moreover, these collaborations underscore Saudi Arabia's commitment to the Vision 2030 goals of economic diversification, industrial development, and job creation, while also contributing to global efforts in environmental sustainability and digital transformation.

    Saudi Arabia's technological partnerships and initiatives represent a significant milestone in the country's journey towards a knowledge-based economy and digital transformation. 

    With a focus on fostering innovation, building local expertise, and leveraging emerging technologies, the kingdom is poised to drive economic growth, create employment opportunities, and address societal challenges. As these initiatives continue to unfold, they are expected to propel Saudi Arabia into a leading position on the global stage of technological innovation and industrial development. 

    BUILDING MATERIALS

    High-end manufacturing is not the only area of focus, with the government also eyeing growth in traditional manufacturing sectors. In May, the National Housing Company (NHC) signed a co-operation agreement with China’s CITIC Construction to establish an industrial city and logistics zones for building materials, comprising 12 factories in Saudi Arabia. 

    The co-operation agreement with CITIC Construction is part of NHC's eorts to secure supply chains for its residential projects, ensuring their timely implementation with high quality, noted NHC. It added that the project will attract 12 factories from major specialised manufacturers of building materials, benefiting from Chinese experiences.

    In addition, several local factories will join to enhance the level of operations and attract the best service providers for various sectors of the company, its subsidiaries, and other projects, following the highest international standards.

    “The agreement will contribute to maximising the economic and developmental impact of the real estate sector in the kingdom, and developing and raising the quality of residential projects, the company said. It will also promote the national transformation in the construction sector through these industrial cities and logistics zones, which will serve the Chinese factories in localising the building materials industry,” according to the Saudi Press Agency

    The spate of new facilities will also provide opportunities for small and medium local factories to benefit from business activities and provide direct production lines for the company's projects, developing the local building materials industry, and creating more opportunities in the sector.

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    ECONOMY

    Investing in projects outside of the hydrocarbon sector has created new revenue streams for the government and generated jobs across the country.

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    OIL

    Summer-related activities like travelling during the third quarter will further boost worldwide demand for transport fuels. 

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    TRADE

    The European Union will advocate for trade policies that promote fairness and transparency, as more European companies do business in the kingdom. 

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    ESG

    New power projects, as well as ongoing environmental initiatives, signal the country’s shift towards a more sustainable future.  

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    DISCLAIMER

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