The Saudi Arabian delegation participating in the World Economic Forum (WEF) Annual Meeting 2026 outlined a broad set of initiatives to address global economic, environmental, and technological challenges, underscoring the Kingdom’s expanding international engagement and the progress of its Vision 2030 strategy.
Powering a Global AI Hub
Highlighting the Kingdom’s significant economic diversification, Abdullah A. Alswaha, Minister of Communications and Information Technology, noted that the non-oil sector now accounts for 56% of the nation’s GDP. This growth is heavily supported by a burgeoning tech workforce as Saudi Arabia advances toward its goal of becoming a global AI hub.
Backing these ambitions, HUMAIN and the National Infrastructure Fund announced a strategic financing framework of up to $1.2 billion to expand AI and digital infrastructure. The investment will support the development of up to 250 megawatts of hyperscale AI data-center capacity across the Kingdom.
Advancing Industrial Transformation
In the industrial sector, the Ministry of Industry and Mineral Resources (MIM), in collaboration with WEF, unveiled the Lighthouse Operating System. This national framework is designed to accelerate manufacturing transformation, strengthen non-oil industries, and support broader economic diversification goals.
Furthermore, MIM and WEF announced a cooperation agreement extending until September 2027. The partnership aims to strengthen collaboration around critical minerals essential for the energy transition and emerging technologies, thereby supporting the development of resilient and sustainable global mineral supply chains.
Championing Global Sustainability
On the environmental front, Her Royal Highness Ambassador Reema Bandar Al-Saud, Saudi Arabia’s Ambassador to the United States, announced that the Kingdom will host the first Global Coral Reef Summit in 2026. The summit will convene global leaders, scientists, and investors to advance solutions for coral reef protection and restoration.
Environmental action was also a key theme with the launch of the Business4Land Champions’ Council by the UNCCD COP16 Presidency. The high-level coalition will bring together business leaders and policymakers to accelerate land restoration and combat land degradation.
Tourism as a Unifying Force
Addressing the role of tourism in an increasingly fragmented global landscape, Ahmed A. Alkhateeb, Minister of Tourism, highlighted the sector’s significant contribution to promoting peace and social cohesion, citing its positive impact on people, youth, and women.
About Saudi Vision 2030
Saudi Vision 2030 is a transformative economic and social reform blueprint launched by the Kingdom of Saudi Arabia. It aims to diversify the economy away from its dependence on oil, develop public service sectors such as health, education, infrastructure, recreation, and tourism, and create a vibrant society. Key goals include increasing non-oil revenue, boosting private sector contribution to the GDP, and positioning the Kingdom as a global investment powerhouse.
Source: Fast Company Middle East
