Saudi Arabia Prioritizes Human Capital at Davos 2026
During the World Economic Forum 2026 in Davos, Switzerland, Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, emphasized that the Kingdom’s most valuable resource is not its abundant oil or mineral wealth, but its people. Speaking at a high-level panel titled “The Human Code: Designing Capability Systems” at the Saudi House, the minister declared that investing in human capital is central to the country’s long-term economic strategy.
Alkhorayef highlighted the Kingdom’s young and dynamic population as a strategic asset that sets Saudi Arabia apart from many developed nations facing demographic decline and aging populations. This youthful demographic, he said, is a cornerstone of Vision 2030, the country’s transformative initiative aimed at diversifying the economy and reducing dependence on oil.
Youth as a Strategic Advantage
“Our youth represent a tremendous opportunity,” Alkhorayef noted. “Unlike many advanced economies, we are blessed with a growing, young population. This gives us a unique advantage as we invest in their development and prepare them for the future.”
According to the minister, the challenge now lies in transforming this demographic wealth into sustainable economic value. This involves equipping the future workforce with the skills and knowledge required for a rapidly evolving industrial landscape.
Educating for the Future
Saudi Arabia is making significant progress in areas such as education, vocational training, and workforce rehabilitation. These efforts focus on aligning human capital development with the demands of modern industries, including artificial intelligence (AI), advanced manufacturing, and digital technologies.
“We are preparing our youth for the industries of tomorrow,” said Alkhorayef. “This includes fostering innovation, creativity, and technical expertise to ensure they can thrive in a globalized economy.”
Redefining Traditional Sectors
Alkhorayef also spoke about the need to rebrand traditional sectors, such as mining and manufacturing, to better appeal to younger generations. By integrating technology and innovation into these fields, the government aims to make them more attractive and competitive globally.
“Today’s youth are drawn to technology-rich careers,” he said. “We must reshape how they perceive industries like mining. These are no longer dirty or outdated sectors—they are innovation-driven, tech-powered, and globally relevant.”
Technology as a Catalyst for Growth
Technology and innovation, Alkhorayef asserted, are becoming the new pillars of industrial competitiveness. The Kingdom’s strategy includes adopting AI and automation to increase efficiency, flexibility, and resilience in its industrial sectors.
“Where large-scale operations once defined competitiveness, today technological advancement is the differentiator,” he explained. “We are identifying which tasks can be automated and where human expertise is most valuable.”
Public-Private Collaboration Crucial for Success
The minister stressed the importance of collaboration between the public and private sectors. While private companies lead investments in industry and mining, the government plays a vital role in enabling innovation, building infrastructure, and fostering a regulatory environment that supports growth.
“Industrial transformation in the Kingdom requires a collective effort,” Alkhorayef said. “The government must ensure that companies, especially in remote areas, have access to the necessary infrastructure, training programs, and technologies to succeed.”
Modernizing the Mining Industry
One of the key examples of this transformation is the modernization of the mining sector. Alkhorayef detailed several initiatives aimed at integrating advanced technologies, such as remote operations and modern management systems, to increase efficiency and sustainability.
“We are rapidly exploring and utilizing our mineral resources,” he stated. “All of this is being done with a strong commitment to sustainability, productivity, and energy efficiency.”
Strengthening Saudi Arabia’s Global Role
Saudi Arabia’s participation at Davos 2026 underscores its growing role on the international stage. The Kingdom is increasingly seen as a key player in shaping discussions around global economic development, sustainability, and innovation.
Alkhorayef concluded by reiterating that human capital is the bedrock of Saudi Arabia’s transformation. “Our people are our greatest asset. By investing in their capabilities, we are investing in a brighter, more resilient future for the Kingdom.”
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