Saudi Arabia has officially signed a partnership agreement with the World Economic Forum (WEF) aimed at accelerating industrial transformation across the Kingdom. The agreement, signed at the World Economic Forum in Davos, will enhance Saudi Arabia’s ambitions to become a leading industrial hub in the region and globally.
The deal was signed by Bandar Alkhorayef, the Minister of Industry and Mineral Resources, and Borge Brende, President and CEO of the World Economic Forum. The signing ceremony was attended by Faisal bin Farhan Al Saud, Saudi Arabia’s Minister of Foreign Affairs, and Faisal Alibrahim, Minister of Economy and Planning.
The focus of this collaboration is to develop a scalable, structured model for industrial transformation in Saudi Arabia, aiming to build capabilities and enhance competencies across its industrial ecosystem. This effort will solidify the Kingdom’s position as a regional leader in advanced manufacturing and industrial innovation.
As part of the partnership, Saudi Arabia’s Ministry of Industry and Mineral Resources will work closely with the WEF to promote the adoption of advanced technologies through a digital toolkit designed to support industrial transformation. The initiative aims to shift from theoretical assessments to practical implementations, speeding up the integration of cutting-edge industrial applications into manufacturing facilities.
The agreement also strengthens Saudi Arabia’s engagement with global technology suppliers, service providers, and system integrators through the WEF’s international technology ecosystem. This cooperation will help enhance the efficiency, resilience, and competitiveness of the Kingdom’s industrial sector.
The collaboration underscores Saudi Arabia’s commitment to adopting international best practices in industrial transformation, as well as its contribution to the Lighthouse OS operating system. Developed by Oxagon, a subsidiary of NEOM, Lighthouse OS is a national industrial transformation model designed to meet global standards.
This initiative is part of Saudi Arabia’s broader efforts to modernize its industrial facilities, increase productivity, and boost global competitiveness. It aligns with the objectives of the National Industrial Strategy and Saudi Vision 2030, which aim to diversify the Kingdom’s economy, expand the industrial sector’s contribution to GDP, and position Saudi Arabia as a leading industrial power both regionally and internationally.
This partnership with the World Economic Forum represents a significant step toward Saudi Arabia’s industrial transformation, leveraging global expertise and advanced technologies to reshape its manufacturing sector and enhance its global competitiveness.
