The Minister of Industry will discuss strengthening partnerships and technology transfer at Davos 2026
As part of ongoing efforts to enhance the Kingdom of Saudi Arabia’s position as a global logistics and industrial hub, His Excellency the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, continued his intensive activities during the Kingdom’s participation in the 2026 World Economic Forum in Davos, Switzerland. His Excellency held a series of strategic meetings with leading government officials and executives from major international companies to explore avenues for joint cooperation and attract high-quality investments to the Kingdom.
Strengthening economic diplomacy and international partnerships
These moves come within the framework of the Kingdom's National Industrial Strategy, launched as part of Vision 2030, which aims to diversify the economic base and reduce dependence on oil. In this regard, Minister Al-Khorayef held an important bilateral meeting with the Prime Minister of Bermuda, David Burt. The meeting addressed promising investment opportunities between the two sides and discussed mechanisms to enhance trade and economic cooperation in a way that serves mutual interests, reflecting the Kingdom's commitment to building bridges of cooperation with various countries around the world.
Localizing advanced technologies and building the future
In a move reflecting the Kingdom's commitment to adopting Fourth Industrial Revolution technologies, His Excellency the Minister met with the Director-General of the World Economic Forum's Center for Advanced Manufacturing (WEF). Discussions focused on the pivotal role of governments in shaping policies and legislation that incentivize the private sector, as well as ways to accelerate the adoption of advanced manufacturing technologies and artificial intelligence in Saudi factories, thereby contributing to increased production efficiency and enhanced global competitiveness for Saudi products.
His Excellency also paid special attention to the health and pharmaceutical security sector, meeting with the Executive Vice President of the Coalition for Epidemic Preparedness Innovations (CEPI). During the meeting, they discussed joint investment opportunities for localizing the vaccine and biopharmaceutical manufacturing industry in the Kingdom, a vital sector in which the Kingdom seeks to achieve self-sufficiency to ensure national and regional health security.
Partnerships with global industry giants
On the international private sector level, Minister Al-Khorayef held fruitful meetings with leaders of leading global companies, including the Chairman and CEO of Medtronic, a company specializing in medical technologies, the CEO of Hertha Metals, a leader in mining and metals, and the CEO of Archer, a company specializing in advanced air transport solutions.
These meetings addressed the expansion plans of these companies in the Saudi market and explored opportunities for manufacturing new products locally. They also focused on innovative solutions to enhance environmental sustainability and reduce carbon emissions in industrial processes, in line with the Saudi Green Initiative. Discussions further touched upon the transfer of modern manufacturing technologies for smart transportation, supporting the Kingdom's ambitions to develop a future-proof and sustainable transportation system.
These intensive meetings at “Davos 2026” underscore the Kingdom’s growing role as an active partner in shaping the future of the global economy, and its commitment to providing an attractive investment environment for global talent and major companies.
