Saudi Arabia’s High-Tech Manufacturing National Champion

On February 1, 2024, Saudi Arabia launched yet another company. The Saudi Public Investment Fund established Alat—a strategic initiative specializing in the industrial sector, which is another step in diversifying the Saudi economy and expanding its non-oil sector. This is a goal the oil and gas kingdoms of the Gulf have been pursuing for the past decade—all in preparation for their broader socioeconomic transformations, such as Vision 2030...