The Saudi Minister of Industry and the President of the World Economic Forum sign a cooperation agreement for industrial transformation in the Kingdom
The Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, and the President of the World Economic Forum, Børge Brende, signed a cooperation agreement between the Ministry and the Forum to advance industrial transformation paths in the Kingdom. The signing took place in the presence of Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs and head of the Saudi delegation at “Davos 2026,” during the session held in the Swiss city of Davos.
The agreement, signed on the sidelines of the Minister of Industry and Mineral Resources’ participation within the Kingdom’s delegation at the World Economic Forum 2026, centers on preparing a systematic and scalable model for industrial transformation in the Kingdom. This will be achieved by building capacity and developing competencies across the industrial ecosystem, thereby enhancing the Kingdom’s position as a leading regional hub in the field of industrial transformation.
The agreement also aims to accelerate the pace of industrial transformation and promote the adoption of technologies by developing a digital toolkit that supports the industrial transformation path. This contributes to moving from the theoretical assessment stage to effective practical implementation and speeds up the adoption of modern technologies and leading industrial applications.
The terms of the agreement include involving the Ministry in the Forum’s technological ecosystem, enhancing its interaction with global technology suppliers, system integration solution companies, and service providers. It also aims to maximize the Ministry’s benefit from centers of expertise to raise the efficiency and flexibility of the industrial sector. Furthermore, the areas of cooperation include highlighting the Kingdom’s efforts and leadership in adopting and developing international best practices for industrial transformation, as well as its role as a key contributor to the “Lighthouse OS” operating system. This system was developed internally in the Kingdom by Oxagon, a NEOM company, as a leading national model for industrial transformation, built and implemented to align with the best global standards and practices.
The signing of the agreement, which will be implemented in coordination between the Forum and the Ministry’s Advanced Manufacturing and Production Center, comes as part of the Kingdom’s efforts to enable industrial transformation and accelerate the adoption of modern technologies in industrial facilities. This aims to increase the sector’s efficiency and enhance its global competitiveness. It aligns with the goals of the National Industrial Strategy and Saudi Vision 2030 to transform the Kingdom into a leading regional and global industrial power and maximize the impact of industry on the journey of diversifying the national economy.
The signing was attended by the Minister of Economy and Planning, Faisal bin Fadel Al-Ibrahim.
United News Network – UNN Arabic
An independent media platform providing reliable news and objective analysis, seeking to promote peace and cultural dialogue around the world to convey the truth and build bridges of understanding between peoples.
For more news, you can visit our homepage:
