Saudi Arabia is creating a fund of up to SAR 1 billion to invest in semiconductor companies. Over the next five-to-six years, the fund aims to boost the number of semiconductor firms operating in Saudi Arabia.
Additionally, the Kingdom aims to attract 25 international industry experts and bolster support for sectoral startups to achieve global prominence.
The development and adoption of semiconductor technology in Saudi Arabia is anticipated to significantly transform its economy and technological landscape. By investing in semiconductor manufacturing and research, the country can diversify its oil-dependent economy, foster innovation, and become a key player in the global technology supply chain.
This shift aligns with Saudi Vision 2030, which aims to boost non-oil industries, enhance digital infrastructure, and create high-tech jobs. Furthermore, advancing semiconductor capabilities can strengthen Saudi Arabia's position in emerging technologies such as artificial intelligence (AI), 5G, and the Internet of Things (IoT), driving economic growth and enhancing national security.
National Semiconductors Center
Furthermore, Mohammed Alotaibi, Acting Head of the Research, Development and Innovation Authority, announced the launch of the National Semiconductors Center to advance Saudi Arabia's ambitions in the semiconductor sector.
He stated that the center would enhance the Kingdom's expertise, promote it as a global hub for semiconductor design companies, and attract these businesses to Saudi Arabia, creating high-quality jobs.
Alotaibi projects that the global semiconductor industry will reach a valuation of USD 1 trillion in the next few years, highlighting the Kingdom's strategic role in this sector.
He added that Saudi Arabia collaborates with all national authorities to foster semiconductor research, development, and innovation, supporting the sector's growth in the coming years.
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