Riyadh – Mubasher: King Salman of Saudi Arabia has appointed Khalid Al Falih as Minister of Investment, Saudi Press Agency (SPA) reported.

This comes as the Saudi King has issued a royal decree creating an investment ministry by transforming the Saudi Arabian General Investment Authority (SAGIA) into a ministry with the name Ministry of Investment.

Accordingly, the Ministry of Commerce and Investment has been renamed as the Ministry of Commerce.

It is worth noting that Al Falih previously served as the Minister of Energy, Industry, and Mineral Resources, as well as the Chairman of Saudi Aramco.