Saudi Arabia has shaken up its government investment bodies with a major change to SAGIA, the Saudi Arabian General Investment Authority, making the body a full ministry and replacing former Governor Ibrahim Al-Omar with former Saudi Aramco head Khalid Al-Falih, the King revealed in a series of royal decrees.
In three separate royal orders, Eng. Ibrahim bin Abdulrahman Al-Omar of was relieved of his post as Governor of the Saudi Arabian General Investment Authority. SAGIA is now transformed into a ministry with the name of Ministry of Investment, and Khalid bin Abdulaziz Al-Falih is now the new Minister of Investment. [more]