RIYADH, Feb. 12 (Xinhua) - The Saudi leadership on Thursday issued a royal decree to appoint Fahad bin Abduljalil Al-Saif as the new investment minister.
Al-Saif has been mostly known for his roles in the Public Investment Fund, the country's sovereign wealth fund, as well as various corporate boards.
He replaced Khalid bin Abdulaziz Al-Falih, who had been serving in the post since February 2020. Al-Falih was appointed as a minister of state and a member of the cabinet.
The appointment was part of a broader series of royal orders that include ministerial, judicial and advisory changes, as well as local governors.
Among the appointments, Saad bin Saud bin Mohammed bin Abdulaziz Al Saud was appointed as a member of the Shura Council, a 150-member, appointed advisory body that plays a key role in reviewing laws, regulations, and state policies.
Haifa bint Mohammed bin Saud bin Khalid Al Abdulrahman Al Saud was appointed as adviser at the General Secretariat of the Council of Ministers with the rank of minister. She was relieved of her duties as deputy minister of tourism.
The changes, reported by the Saudi Press Agency, reflect ongoing efforts to streamline government operations under Vision 2030.
The year 2026 marks the 10th anniversary of Saudi Arabia's Vision 2030 program, which seeks to build a diversified and globally competitive economy, with VC playing an increasingly important role in supporting innovation and private-sector-led growth. ■
