Minister of Industry at Davos 2026: Strengthening partnerships and localizing technology
In a move reflecting the Kingdom of Saudi Arabia’s commitment to strengthening its position as a global industrial power, the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, held a series of high-level strategic meetings with government officials and leaders of major international companies, on the sidelines of the Kingdom’s active participation in the World Economic Forum 2026 held in Davos, Switzerland.
Strengthening economic diplomacy and international partnerships
These moves come as part of the Kingdom's ongoing efforts to achieve the goals of Vision 2030, specifically the National Industrial Strategy, which aims to diversify the economic base away from oil. Minister Al-Khorayef began his activities with a bilateral meeting with the Prime Minister of Bermuda, David Burt, where they reviewed promising investment opportunities and discussed frameworks for joint economic cooperation. The meetings were not limited to the diplomatic sphere; they also included a technical meeting with the Director-General of the World Economic Forum's (WEF) Centre for Advanced Manufacturing. Discussions focused on the pivotal role of governments in formulating flexible policies that support the private sector and accelerate the adoption of Fourth Industrial Revolution technologies.
Localizing the vaccine industry and pharmaceutical security
In light of the growing global focus on health security, the Minister of Industry paid particular attention to the biotechnology sector, meeting with the Executive Vice President of the Coalition for Epidemic Preparedness Innovations (CEPI). The two sides discussed opportunities for localizing vaccine manufacturing in the Kingdom, a strategic step aimed at strengthening national and regional pharmaceutical security and positioning the Kingdom as a pivotal hub for advanced pharmaceutical industries in the Middle East.
Transfer of modern manufacturing technologies and sustainability
In the private sector and with multinational corporations, His Excellency the Minister held fruitful meetings with leaders of leading global companies, including the Chairman and CEO of Medtronic, a medical technology company, the CEO of Hertha Metals, and the CEO of Archer. These discussions focused on:
- Expanding investments: Examining these companies' plans to establish regional manufacturing centers within the Kingdom.
- Environmental sustainability: Reviewing innovative solutions to reduce carbon emissions in industrial processes, in line with the Saudi Green Initiative.
- Smart Transportation: Discussing the transfer of modern manufacturing technologies for smart transportation (such as air taxis and electric vehicles) to the Saudi market.
These intensive meetings at “Davos 2026” underscore the growing role of the Kingdom of Saudi Arabia as an active partner in shaping the future of the global economy, and its ability to attract quality investments that contribute to creating knowledge-based jobs and transferring advanced technical knowledge to national cadres.
