At Davos 2026, Minister AlKhorayef: While Rich in Natural Resources, the Kingdom’s Greatest Asset Is Its Young Talent

His Excellency Mr. Bandar bin Ibrahim AlKhorayef, Saudi Minister of Industry and Mineral Resources, presented the Kingdom’s ambitious vision to develop its human capital and equip it with the advanced skills required for cutting-edge manufacturing and artificial intelligence. He delivered this message during a high-level panel discussion at the Saudi House on the sidelines of the World Economic Forum in Davos, Switzerland.

Speaking at the session titled “The Human Code: Designing Capability Systems,” Mr. AlKhorayef highlighted the Kingdom’s significant strategic asset: a large, young population. This is in contrast to many advanced economies, which face mounting challenges from aging demographics and shrinking workforces.

While highlighting the strength of Saudi Arabia’s natural resources, including oil, gas, petrochemicals, and minerals, the Minister identified the core challenge as the ability to transform this wealth into sustainable added value through human capital. He noted the Kingdom’s rapid recent progress in education, training, skills development, and technology adoption across sectors.

His Excellency observed that Saudi youth increasingly gravitate toward technology-based roles, reshaping perceptions of traditional industries. Attracting young talent to sectors like mining, he stressed, requires transforming them into modern, tech-driven fields defined by innovation, competitiveness, and a forward-looking vision.

Mr. AlKhorayef detailed how technological advancements are reshaping industrial models. The Kingdom’s approach to adopting AI and advanced manufacturing, he explained, springs from a clear vision focused on identifying automatable roles. Where large scale was once essential for competitiveness, technology has now become the crucial pillar, unlocking more diversified industrial capabilities.

He stated that the Kingdom’s industrial transformation requires collective action, concerted effort, and integration, noting that the private sector cannot achieve this alone. He added that success depends on providing infrastructure in remote areas, investing in training and development, and deploying technologies that ensure sustainability.

He emphasized the necessity of public-private integration. While private firms lead investment in industry and mining, the government must ensure the pace of technological adaptation and foster an innovation-conducive environment that enables training and development.

The Minister reviewed key initiatives launched to enable this industrial transformation, strengthen the innovation ecosystem, and develop national talent. These include the establishment of the Advanced Manufacturing and Production Center; the “Future Factories” program to accelerate adoption of advanced manufacturing technologies; the launch of the Saudi School of Mining at King Abdulaziz University during the Future Minerals Forum in Riyadh; the Industrial Hackathon by the Saudi Industrial Development Fund; and the National Industrial Development and Logistics Program’s (NIDLP) “1K Mile” program, which builds links between major companies and innovators.

He added that these steps form part of integrated efforts to develop national competencies and empower young talent. He also noted the role of leading national companies, including SABIC, Aramco, Ma’aden, STC, and SEC, in enabling entrepreneurs to test and implement new technologies in real industrial environments.

Addressing the development of the mining sector, Vision 2030’s third industrial pillar, AlKhorayef stated, “The Kingdom is advancing rapidly in exploring and utilizing its mineral resources while adhering to sustainability, productivity, and energy efficiency standards.” He highlighted the adoption of modern mining technologies, including sophisticated mine management and remote operations.

The Minister’s participation in this session reinforces the Kingdom’s active engagement on influential global platforms like the World Economic Forum. It strengthens Saudi Arabia’s role as a committed partner in addressing international economic issues and advancing stability, growth, and sustainable development.