RIYADH: Saudi Arabia will soon be ready for future global trends thanks to the Public Investment Fund company Alat, according to the minister of industry and mineral resources. Speaking during the firm’s press launch event, Bandar Alkhorayef explained how Alat will help create a complete ecosystem in the Kingdom, reduce imports, and increase localization. This falls in line with the aim of making Saudi Arabia a global hub for sustainable manufacturing that focuses on advanced technologies and electronics, the Kingdom"s official press agency reported. “Saudi Arabia is no longer going to buy technology, it’s going to develop the technology, the ecosystem,” Alkhorayef said. “In each industrial sector, you need certain pillars, large pillars, that can actually pull with them so many activities,” he added. Also speaking at the event, Minister of Communications and Information Technology Abdullah bin Amer Al-Swaha shed light on how to drive leadership in the generative artificial intelligence era. Al-Swaha clarified that it requires three components, including AI leadership, the diffusion of these technologies across industries from a software and hardware perspective, and the ecosystem. When discussing the ecosystem, the minister further explained: “How industries, minerals, innovation, technology can come together, led by the private sector, with Alat to make sure that tomorrow is made better.” Al-Swaha stressed: “Whether we’re talking about healthcare and wellness, sustainability in the environment, industry and energy, or the future of economies across the board, Alat has a unique opportunity to disrupt those industries and make sure that the Kingdom and the region takes its fair share.” Earlier in February, Saudi Crown Prince Mohammed bin Salman announced the launch of Alat. The organization will focus on manufacturing products that serve local and international markets within seven key strategic business units, including advanced industries, semiconductors, and smart appliances, among others, the Saudi Press Agency reported at the time. The company, chaired by the crown prince, aims to enhance the capabilities of the Saudi technology sector, increase its contribution to local content, and boost the nation’s attractiveness and ability to create investment opportunities. Alat will also build partnerships to enable the transformation of the global industrial sector by providing sustainable industrial solutions based on clean energy sources.