Securing private sector investment has become a key priority for Riyadh
Register for MEED’s 14-day trial access
King Salman Bin Abdulaziz Al-Saud has made a series of senior government changes, including Khalid Al-Falih leaving his role as investment minister to become minister of state and a member of the cabinet.
Al-Falih has been replaced by Fahad Al-Saif as investment minister. Al-Saif has been head of the Investment Strategy and Economic Insights Division at the Public Investment Fund (PIF) since 2024. That role involved formulating PIF’s long-term investment strategy. He has also served as head of the Global Capital Finance Division, a role he has held since joining PIF in 2021.
The change of investment minister comes at a time when securing investments has become a key priority for Saudi Arabia as it prepares to hand over more projects to the private sector for delivery.
King Salman also named Abdullah Al-Maghlouth as vice-minister of media and Abdulmohsen Al-Mazyad as vice-minister of tourism. Khalid Al-Yousef was named attorney general, and Sheikh Ali Al-Ahaideb will serve as president of the Board of Grievances.
Faihan Al-Sahli was selected as director general of the General Directorate of Investigation, while Abdulaziz Al-Arifi was chosen to lead the National Development Fund. Haytham Al-Ohali will head the Communications, Space and Technology Commission, and Fawaz Al-Sahli will chair the Transport General Authority.
