Saudi Arabia Names PIF Head as Minister Overseeing FDI Push

Saudi Arabia has appointed Fahad Al-Saif as its new investment minister, putting an official from the kingdom’s sovereign wealth fund at the helm of the entity tasked with drawing more capital to the country.

Al-Saif, head of investment strategy and global capital finance at the Public Investment Fund, was appointed by royal decree, according to a statement from the state-run Saudi Press Agency on Thursday. He replaces Khalid Al-Falih, who served in the role since 2020.