The Kingdom signs an agreement with the Davos Forum to accelerate industrial transformation
In the presence of His Highness Prince Faisal bin Farhan bin Abdullah Head of the Saudi delegation at a forum "Davos 2026"signed Bandar bin Ibrahim Al-Khorayef and President of the World Economic Forum, Borg Brende, signed a cooperation agreement between the Ministry and the Forum to advance industrial transformation paths in the Kingdom, on the sidelines of his participation within the Kingdom’s delegation in the World Economic Forum 2026 held in the city of Swiss.
The agreement concluded between the two parties focuses on preparing a systematic model for industrial transformation that can be expanded in the Kingdom, through capacity building and developing competencies at the level of the industrial system, in a way that enhances the Kingdom’s position as a regional pioneer center in the field of industrial transformation.
The Kingdom signs a cooperation agreement with the World Economic Forum to advance industrial transformation paths and accelerate the adoption of modern technologies, on the sidelines of the annual meeting of
Industrial Transformation
The agreement also aims to accelerate the pace of industrial transformation and enhance the adoption of technologies by developing a set of digital tools that support the path of industrial transformation, which contributes to the transition from the stage of theoretical evaluation to effective practical implementation, and accelerating the adoption of modern technologies and leading industrial applications.
The terms of the agreement also include the ministry’s involvement in the forum’s technical system in a way that enhances its interaction with technology suppliers. Global companies, systems integration solutions and service providers, and maximizing their benefit from centers of expertise to raise the efficiency of the industrial sector and increase its flexibility.
Industrial facilities
The cooperation axes in the agreement also include highlighting the Kingdom’s efforts and leadership in the field of adopting and developing the best international practices for industrial transformation, and its role as a major contributor to the Lighthouse Operating System (Lighthouse OS), which was developed internally in the Kingdom through Oxagon, a subsidiary of NEOM, as a pioneering national model for industrial transformation. It was built, implemented, and upgraded to keep pace with the best international standards and practices.
The agreement, which will be implemented, comes in coordination between the Forum and the Advanced Manufacturing and Production Center in the Ministry; Within the framework of the Kingdom’s efforts to enable industrial transformation and accelerate the adoption of modern technologies in industrial facilities, in a way that raises the efficiency of the industrial sector and enhances its competitiveness globally.
It is also in line with the objectives of the National Strategy for Industry and Saudi Vision 2030 to transform the Kingdom into a leading industrial power regionally and globally, and maximize the impact of industry in the process of diversifying the national economy.
The signing of the agreement was attended by the Minister of Economy and Planning, Faisal bin Fadel Al-Ibrahim.
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