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Saudi Arabia and the World Economic Forum (WEF) have signed a strategic cooperation agreement to accelerate the Kingdom’s industrial transformation, on the sidelines of the World Economic Forum Annual Meeting 2026 in Davos, Switzerland. The agreement was signed by Minister of Industry and Mineral Resources Bandar Alkhorayef and WEF President and CEO Børge Brende, in the presence of Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs and Head of the Saudi Delegation to the forum.
The agreement focuses on developing a scalable and structured model for industrial transformation by building capabilities and developing competencies across the Kingdom’s industrial ecosystem, enhancing Saudi Arabia’s position as a leading regional hub for industrial transformation. It aims to accelerate technology adoption through the development of a digital toolkit that supports industrial facilities in moving from theoretical assessments to practical implementation, while enabling faster adoption of advanced technologies and high-impact industrial applications.
The cooperation also includes integrating the Ministry of Industry and Mineral Resources into the World Economic Forum’s technology ecosystem, strengthening engagement with global technology suppliers, system integrators, and service providers, and maximizing access to international centers of expertise. This framework highlights the Kingdom’s leadership in adopting global best practices in industrial transformation and its role as a key contributor to the Lighthouse OS operating system, a pioneering national model developed by Oxagon, a subsidiary of NEOM, and aligned with the highest international standards.
Implemented in coordination with the ministry’s Advanced Manufacturing and Production Center, the agreement supports the objectives of the National Industrial Strategy and Saudi Vision 2030, aiming to enhance industrial efficiency, strengthen global competitiveness, and increase the sector’s contribution to economic diversification and non-oil GDP growth.
As Saudi Arabia accelerates its industrial transformation agenda, J K Management Consultancies supports businesses and investors through industrial licensing, regulatory compliance, Vision 2030 alignment, technology adoption advisory, and government liaison services, helping organizations successfully navigate the Kingdom’s evolving industrial landscape.
