Davos, January 24, 2025 — Minister of Industry and Mineral Resources, Bandar Alkhorayef, took part in a key panel session titled "Royal Commission for Jubail and Yanbu: A Sustainable Model for Managing Industrial Cities," hosted as part of the Saudi House initiative during the World Economic Forum (WEF) 2025 in Davos, Switzerland. The session highlighted the Royal Commission for Jubail and Yanbu’s pivotal role in the development and management of the Kingdom's industrial cities, offering insights into its strategic vision and achievements.
Minister Alkhorayef began by emphasizing the remarkable success the Royal Commission has achieved in transforming Jubail and Yanbu into world-class industrial hubs. He credited the Commission’s strategic foresight and effective international partnerships with major global companies like Parsons and Bechtel for this success. These collaborations have been instrumental in ensuring the long-term sustainability of the cities and positioning them as global leaders in industrial development.
Alkhorayef underscored the dramatic transformation of Jubail Industrial City, which has evolved from barren desert land into a thriving industrial center with state-of-the-art infrastructure. The city now offers high-quality educational and healthcare services, making it an attractive destination for both international investors and skilled professionals. This transformation is a testament to the Royal Commission's commitment to creating a balanced and sustainable industrial ecosystem that not only supports economic growth but also enhances the quality of life for its residents.
Further emphasizing the Commission’s role in Saudi Arabia’s broader economic goals, the Minister explained that the Royal Commission for Jubail and Yanbu is playing a vital role in supporting emerging sectors that align with the Kingdom’s efforts to diversify its economy under Vision 2030. A key aspect of the Commission’s strategy is its drive to ensure financial sustainability by reducing reliance on government funding. Alkhorayef noted that the privatization of essential sectors, including healthcare and education, is part of this effort. The goal is for the Commission to achieve financial independence by 2030, helping to create a more resilient and self-sustaining industrial ecosystem.
The session also reflected on the Royal Commission's impressive 50 years of expertise in managing industrial cities. Through a deep dive into its successes, challenges, and opportunities, the panel explored how the Commission’s experiences can serve as a model for other countries and regions aiming to build sustainable and efficient industrial cities. As the world increasingly looks toward sustainable development and economic diversification, the Royal Commission’s work in Jubail and Yanbu offers valuable lessons on the importance of long-term vision, strategic planning, and partnerships with global leaders in industry and infrastructure.
As the Kingdom of Saudi Arabia moves toward its Vision 2030 objectives, the Royal Commission for Jubail and Yanbu remains a critical player in the transformation of the Saudi economy. By focusing on sustainability, diversification, and strategic partnerships, the Commission is not only shaping the future of Saudi industry but also contributing to the global conversation on building resilient, sustainable industrial cities for the future.
