Saudi Arabia announced the appointment of a new investment minister as part of a broader cabinet reshuffle issued by royal decree. The leadership stated that the change is intended to strengthen economic diversification efforts and attract greater foreign direct investment.
Officials indicated that the new minister will oversee strategies aimed at expanding non oil sectors, enhancing regulatory frameworks, and promoting international partnerships. The investment portfolio plays a central role in the kingdom’s long term development plans, which seek to reduce reliance on hydrocarbons and stimulate private sector growth.
Economic analysts view the reshuffle as a signal of continued commitment to reform initiatives designed to modernize the national economy. Authorities have emphasized infrastructure development, technology, tourism, and manufacturing as priority areas for capital inflows.
Business groups welcomed the appointment, expressing hope that streamlined procedures and investor friendly policies will accelerate project implementation. The government reiterated its intention to maintain macroeconomic stability while advancing structural transformation.
Observers said the cabinet adjustments reflect ongoing policy calibration as Saudi Arabia positions itself as a regional hub for commerce and innovation.
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