Saudi Arabia Appoints Fahad Al-Saif as New Investment Minister in Strategic Overhaul

New Leadership for Saudi Investment Ministry

Riyadh, Saudi Arabia – Fahad bin Abduljalil Al-Saif has been appointed as Saudi Arabia's new Minister of Investment, effective Thursday, February 12, 2026, following a royal order issued by Custodian of the Two Holy Mosques King Salman. Al-Saif succeeds Khalid Al-Falih, who will now serve as a Minister of State and Cabinet Member. This appointment is a key component of a broader government overhaul designed to invigorate the Kingdom's efforts to attract foreign direct investment (FDI) and advance its ambitious Vision 2030 economic diversification goals.

Al-Saif's Extensive Financial and Investment Background

The new Investment Minister brings over 20 years of experience across corporate banking, investment banking, and global financial services to his new role. Prior to this appointment, Al-Saif held significant positions within Saudi Arabia's financial landscape, including:

• Head of Global Investment Finance at the Public Investment Fund (PIF)
• Head of Investment Strategy and Economic Studies at the PIF
• Chief Executive Officer and board member of the National Debt Management Center
• Advisor to the Minister of Finance and founder of the Public Debt Management Office
• Senior roles at Saudi Awwal Bank and HSBC Saudi Arabia

His extensive background also includes chairing the boards of Emaar The Economic City and aircraft leasing company AviLease, and serving on the boards of entities such as the Saudi Insurance Authority and ACWA Power.

Accelerating Vision 2030 and FDI Targets

Al-Saif's appointment comes at a pivotal moment as Saudi Arabia intensifies its drive to attract foreign capital and deepen global partnerships under Vision 2030. The Kingdom aims to increase FDI to 5.7% of its GDP and targets $100 billion in annual FDI by 2030. This strategic leadership change is viewed as a 'strategic reset' for the Kingdom's investment landscape, particularly as it recalibrates its Vision 2030 targets. The move also addresses challenges related to attracting sufficient foreign inflows, with FDI in 2024 reaching approximately $31.7 billion, falling short of the ambitious annual goal.

Refocused Economic Priorities

The government overhaul and the new ministerial appointment signal a re-evaluation of Saudi Arabia's economic priorities. The Kingdom is reportedly preparing to announce a revision to its flagship Vision 2030 plan, with an anticipated refocus on high-growth sectors such as artificial intelligence (AI), minerals, and tourism. Al-Saif's experience, particularly his involvement in the PIF's investment strategy and the Kingdom's AI strategy, is expected to be crucial in aligning long-term economic planning with practical financing mechanisms to achieve these updated objectives.