Saudi Arabia appoints new investment minister and pushes economic diversification projects

Saudi Arabia has appointed a new investment minister, Fahd bin Abdul Jalil Al Saif, according to a royal decree. The country also dismissed its previous investment minister.

At the same time, Saudi Arabia is advancing several major economic projects. The state-owned company SABIC signed an agreement to supply raw materials for tire manufacturing in the kingdom. The Saudi company Humain invested $3 billion in a funding round for the artificial intelligence firm xAI.