Davos, January 22, 2026, SPA -- On the sidelines of the World Economic Forum 2026 in Davos, Switzerland, a cooperation agreement was signed to enhance the Kingdom’s industrial transformation pathways. The agreement was signed by Minister of Industry and Mineral Resources Bandar Alkhorayef and World Economic Forum President and Chief Executive Officer Borge Brende, with the attendance of Minister of Foreign Affairs and head of the Saudi delegation to the annual meeting Prince Faisal bin Farhan bin Abdullah. 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 aims to accelerate industrial transformation and promote technology adoption by developing a digital toolkit that supports the 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 benefits from centers of expertise to enhance the efficiency and resilience of the industrial sector. The cooperation framework 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. It will enhance the industrial sector's efficiency 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. The signing ceremony was attended by Minister of Economy and Planning Faisal Alibrahim.
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