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.
Ibrahim Al-Omar was appointed to head SAGIA in April 2017.
The changes come as the Kingdom prepares to host the G-20 this year.
SAGIA’s website has already been updated to reflect its status now as Ministry of Investment.
Al-Falih’s appointment brings him back into government service. As the AP notes, Al-Falih at one point “oversaw some 60% of the Saudi economy when he led the Energy Ministry, which at the time was also in charge of mining and industry. Those sectors were spun off from his purview into a new ministry last year in an attempt to focus more effectively on attracting foreign direct investment into those industries.”
SAGIA’s website has already been updated with a new logo for the Ministry of Investment.
More changes were undertaken to Saudi Arabia’s Civil Service, Tourism, and Sports industries, per the decrees below.
-Sulaiman bin Abdullah Al-Hamdan was relieved of his post as Minister of Civil Service.
-The Ministry of Civil Service is joined to the Ministry of Labor and Social Development and its name is amended to be The Ministry of Human Resources and Social Development.
-The Ministry of Commerce and Investment is renamed as the Ministry of Commerce
-The General Sports Authority is transformed into a ministry and renamed as the Ministry of Sports. Prince Abdulaziz bin Turki bin Faisal Al Saud is now Minister of Sports.
-The Saudi Commission for Tourism and National Heritage is transformed into a ministry and renamed as the Ministry of Tourism.
-Turki bin Abdullah Al-Shabanah is no longer Minister of Media; Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi is acting Minister of Media in addition to his post as Minister of Commerce.
Ahmed bin Aqeel Al-Khateeb is now Minister of Tourism
-King Salman appointed Majid bin Abdullah bin Hamad Al-Hoqail, Minister of Housing as Acting Minister of Municipal and Rural Affairs in addition to his post.
-Ahmed bin Aqeel Al-Khateeb is now Minister of Tourism.
-Mohammed bin Saleh Al-Ameel is now Deputy Secretary General of the Cabinet, at the Excellent Rank.
-Munir bin Mahmoud bin Ibrahim El-Desouki is now Assistant Minister of Communication and Information Technology at the Excellent Rank.
-Dr. Sami bin Mohammed bin Abdulaziz Al-Hamoud as Assistant Minister of Industry and Mineral Resources for Planning and Development at the Excellent Rank.
