The Kingdom Signs an Agreement with the World Economic Forum to Accelerate Industrial Transformation
His Excellency the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim AlKhorayef, and the President of the World Economic Forum, Mr. Børge Brende, signed a cooperation agreement between the Ministry and the Forum to advance the pathways of industrial transformation in the Kingdom. The signing took place on the sidelines of His Excellency’s participation as part of the Saudi delegation at the World Economic Forum 2026, held in Davos, Switzerland.
The agreement focuses on developing a scalable, structured model for industrial transformation in the Kingdom by building capabilities and developing competencies across the industrial ecosystem. This will enhance the Kingdom’s position as a leading regional hub for industrial transformation. The agreement also aims to accelerate the pace of industrial transformation and promote the adoption of technologies through the development of a digital toolkit that supports the industrial transformation journey. This will help move from theoretical assessment to effective practical implementation, while accelerating the adoption of advanced technologies and leading industrial applications.
The agreement further includes the Ministry’s integration into the Forum’s technology ecosystem, strengthening its engagement with global technology suppliers, system integrators, and service providers, and maximizing its benefit from centers of expertise to enhance the efficiency and resilience of the industrial sector. The cooperation framework also highlights the Kingdom’s efforts and leadership in adopting and developing international best practices in industrial transformation, as well as its role as a key contributor to the Lighthouse OS operating system. Lighthouse OS was developed domestically in the Kingdom by Oxagon, a subsidiary of NEOM, as a pioneering national model for industrial transformation, designed, implemented, and continuously enhanced to align with the highest global standards and best practices.
The agreement, which will be implemented in coordination between the Forum and the Ministry’s Advanced Manufacturing and Production Center, comes within the framework of the Kingdom’s efforts to enable industrial transformation and accelerate the adoption of modern technologies in industrial facilities. This will enhance the efficiency of the industrial sector and strengthen its global competitiveness. The agreement also aligns with the objectives of the National Industrial Strategy and Saudi Vision 2030, which aim to transform the Kingdom into a leading industrial power regionally and globally, and to maximize the contribution of industry to the diversification of the national economy.