Olayan is the only Saudi whose name has made it to the board and one of three women who will contribute their expertise to the Kingdom’s Future Investment Initiative
Her career began in 1983 under her father’s wing at Olayan Group
Updated 31 August 2018
Arab News
Lubna Olayan is the CEO of Olayan Financing Co. and is the first woman in Saudi Arabia to give a keynote opening at one of the largest conferences in the Kingdom.
The Public Investment Fund (PIF) in Saudi Arabia has named a top-tier team of international business experts to work on the Kingdom’s Future Investment Initiative (FII).
The event debuted in the Kingdom last year and introduced the government’s economic reform plans, focusing on hi-tech sectors, including robotics and artificial intelligence.
Olayan is the only Saudi whose name has made it to the board and one of three women who will contribute their expertise to the initiative.
Olayan was born in 1955 to a businessman and leader who founded the Olayan Group. She grew up valuing education and holds a bachelor’s degree in agriculture from Cornell University, as well as an MBA from Indiana University.
Her career began in 1983 under her father’s wing at Olayan Group, but the two maintained a businesslike relationship in the office.
Her current role is the CEO of Olayan Financing Company, the holding entity of Olayan Group’s full operations in Saudi and the Middle East, and she also sits on the group’s board with her brother and two sisters.
In 2005 Olayan became a non-executive board director at WPP, and in the next two years, she served as an international advisory member of the board for both Rolls-Royce and Citigroup. She joined the board of INSEAD directors late in 2005 and was elected as a member in the board of trustees for Cornell University in 2007.
In 2010, she was awarded the Cornell Entrepreneur of the Year award, and Forbes listed her as the 86th most powerful woman in the world in 2014.
Saudi House kicks off Davos with push on Vision 2030, AI platform and ‘humanizing’ tourism
Saudi ministers dominate pre-summit spotlight at Saudi pavilion, touting Vision 2030’s next phase and human capital as key to global edge
Ministry of Economy and Planning announced the SUSTAIN Platform which aims to accelerate AI-enabled, cross-sector collaboration for sustainable development
Updated 20 January 2026
GABRIELE MALVISI
DAVOS: For regulars at the World Economic Forum, Monday in Davos is usually a chance to ease into the week, a time to reconnect, plan meetings and prepare for the intense schedule ahead.
This year, Saudi Arabia moved quickly to fill that lull, taking center stage with a packed program of panels ahead of Tuesday’s official opening.
At the Saudi House — the Kingdom’s official pavilion on the Promenade, returning after its debut as a standalone venue at the 2025 WEF Annual Meeting — Saudi ministers and global executives set out how the Kingdom sees the next phase of its transformation.
Monday’s speakers at the Saudi House included Minister of Finance Mohammed Al-Jadaan, Minister of Investment Khalid Al-Falih, Minister of Tourism Ahmed Al-Khateeb, and President and Vice Chairman of Meta Dina Powell McCormick. (Supplied)
Established by the Ministry of Economy and Planning, the venue is pitched as a platform for international thought leaders to tackle the challenges, opportunities and solutions shaping the global economy.
Opening a session on the Kingdom’s role at this year’s Forum and the next phase of Vision 2030 — now in its 10th year and roughly two-thirds complete — Princess Reema bint Bandar, Saudi Arabia’s ambassador to the US, said human capital “is the actual driver if you want a competitive, modern economy.”
She described one of the biggest achievements of the past decade as the emergence of a highly qualified cohort of young Saudis who could work anywhere in the world but “choose to come home, choose to build at home and choose to deliver at home,” calling this “the biggest symbol of the success of Vision 2030.”
Who can give you optimum access to opportunities while addressing risks? I contend that Saudi Arabia has been able to provide that formula.
Khalid Al-Falih, Saudi minister of investment
On the same panel, Minister of Finance Mohammed Aljadaan said this success is rooted in a “behavioral change” that has strengthened the Kingdom’s credibility with both international partners and its own citizens.
“Credibility comes from being very pragmatic, making sure that you maintain your fiscal policy discipline, but at the same time refocus your resources where it matters,” he said, warning that “markets will call your bluff if you’re not serious.”
The Saudi House, a cross-ministerial initiative led by the Ministry of Economy and Planning, is intended to underscore the Kingdom’s “commitment to global cooperation” by offering “a platform where visionary ideas are shared and shaped,” while showcasing opportunities and lessons from its “unprecedented national transformation.”
Lubna Olayan, Chair of the Corporate Board, Olayan Group
Echoing earlier comments to Arab News, Economy and Planning Minister Faisal Alibrahim said the Kingdom’s role as an anchor of stability has helped unlock its potential, stressing that while the objective is to decouple from reliance on a single commodity, “2030 is not the finishing line.”
Khalid Al-Falih, Saudi minister of investment, said Saudi Arabia has been able to enable access to opportunities while addressing major risks, arguing that few countries can match the Kingdom’s overall mix.
“No country has all of those to 100 percent,” he said. “But who can give you the mix that gives you optimum access to opportunities while addressing all of those risks?
Dr. Bedour Alrayes, Deputy CEO, Human Capability Development Program, Saudi Arabia
“I contend that Saudi Arabia has been able to provide that formula and the proof is in the pudding,” noting that local investment has doubled in recent years to reach levels comparable with India and China.
While societal transformation dominated the morning discussions, the afternoon turned to technology, tourism, sport and culture, four strategic sectors expected to spearhead Vision 2030’s next phase.
The Ministry of Economy and Planning used the day to announce the SUSTAIN Platform, due to launch in 2026, which aims to accelerate AI-enabled, cross-sector collaboration for sustainable development.
The ministry said SUSTAIN will translate the Kingdom’s public and private-sector coordination mandate into a practical national tool to help government entities, businesses, investors, academia and civil society identify credible partners, form trusted coalitions and move initiatives “from planning to implementation more efficiently,” addressing a global challenge where fragmented partnerships often slow delivery and blunt impact.
“We are in a moment in time where technology may well impact the face of humanity,” said Dina Powell McCormick, recently appointed president and vice chairman of Meta, welcoming the Kingdom’s “desire” to partner with technology companies and its embrace of innovation.
Minister of Tourism Ahmed Alkhateeb, discussing how technology is being deployed in his sector, underlined that “in travel and tourism, people are very important. We learn about other people’s culture through interacting with people. We digitalize the unnecessary and humanize the necessary.”
He added that while technological transformation is a priority, “we don’t want to replace this big workforce with technology. I think we need to protect them in Saudi Arabia, where we’re being a model. I’m an advocate of keeping the people.”
Throughout the week, Saudi House will host more than 20 sessions, including over 10 accredited by the WEF, across six themes: Bold Vision, Insights for Impact, People and Human Capability, Quality of Life, Investment and Collaboration, and Welcoming the World.
The pavilion will also launch “NextOn,” a new series of influential and educational talks featuring leading global voices.
