Saudi Arabia Ministry of Industry and Mineral Resources and the World Economic Forum recently signed an agreement to advance industrial transformation. The signing ceremony was held on the sidelines of the World Economic Forum 2026 in Davos, Switzerland.
Saudi Arabia Aiming To Be Regions Leading Industrial Hub
The commitment focused on developing a scalable, systematic model for industrial transformation in Saudi Arabia. This will be achieved through increased capacity building and skills development across its fast developing industrial ecosystem. As a result, these advancements will strengthen the Kingdom’s position as a leading regional hub for industrial transformation. In addition, it aims to accelerate the pace of industrial transformation and promote technology adoption by developing available digital tools. Accordingly, this facilitates the transition from theoretical assessment to effective practical implementation and expedites the adoption of modern technologies and leading industrial applications. It also includes provisions for the Ministry’s participation in the WEF’s technology ecosystem, enhancing its interaction with global technology suppliers. Further benefits of this participation include access to systems integrators and service providers. Moreover, the agreement highlights the Kingdom’s efforts and leadership in adopting and developing international best practices for industrial transformation.
The agreement will be implemented in coordination with the WEF and the Ministry’s Centre for Advanced Manufacturing and Production. This is part of the Kingdom’s efforts to enable industrial transformation and accelerating inclusion of modern technologies in industrial facilities. As a result, this will raise the efficiency of the industrial sector and enhance its global competitiveness.
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