Saudi Arabia and World Economic Forum partner to accelerate industrial transformation

Saudi Arabia has signed a cooperation agreement with the World Economic Forum to accelerate industrial transformation across the Kingdom, strengthening its ambition to become a leading regional and global industrial hub.

The agreement was signed on the sidelines of the World Economic Forum in Davos by Bandar Alkhorayef, Minister of Industry and Mineral Resources, and Borge Brende, President and Chief Executive Officer of the World Economic Forum.

The signing was attended by Faisal bin Farhan Al Saud, Minister of Foreign Affairs and head of the Saudi delegation to the forum, as well as Faisal Alibrahim, Minister of Economy and Planning.

The agreement focuses on developing a scalable and structured model for industrial transformation in Saudi Arabia by building capabilities and strengthening competencies across the industrial ecosystem. It aims to enhance the Kingdom’s position as a regional centre for advanced manufacturing and industrial innovation.

New deal boosts Saudi industrial ambitions

As part of the collaboration, the Ministry of Industry and Mineral Resources will work with the World Economic Forum to promote the adoption of advanced technologies through a digital toolkit designed to support industrial transformation.

The initiative is intended to move beyond theoretical assessments towards practical implementation, accelerating the deployment of leading industrial applications across manufacturing facilities.

The cooperation framework also includes the ministry’s integration into the forum’s global technology ecosystem, strengthening engagement with international technology suppliers, system integrators and service providers. The partnership will allow the Kingdom to draw on global centres of expertise to improve the efficiency, resilience and competitiveness of its industrial sector.

The agreement highlights Saudi Arabia’s role in adopting and shaping international best practices in industrial transformation, as well as its contribution to the Lighthouse OS operating system. Lighthouse OS is a national industrial transformation model developed domestically by Oxagon, a subsidiary of NEOM. The system has been designed, implemented and continuously enhanced to align with leading global standards.

Implementation of the agreement will be coordinated between the World Economic Forum and the ministry’s Advanced Manufacturing and Production Centre. The initiative forms part of Saudi Arabia’s wider efforts to modernise industrial facilities, increase productivity and strengthen global competitiveness.

The partnership aligns with the objectives of the National Industrial Strategy and Saudi Vision 2030, which aim to diversify the Kingdom’s economy, expand the contribution of industry to GDP and position Saudi Arabia as a leading industrial power regionally and internationally.