Article · Wikipedia archive · Last revised Jul 11, 2026

Ministry of Investment (Saudi Arabia)

The Ministry of Investment is a government ministry in Saudi Arabia responsible for overseeing foreign investment in the Kingdom. It issues licenses to foreign investors and works to develop the country’s investment environment.

Last revised
Jul 11, 2026
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Ministry of Investment
وزارة الاستثمار
Agency overview
FormedFebruary 25, 2020 (2020-02-25)
Preceding agency
  • General Investment Authority (2000 – 2020)
JurisdictionGovernment of Saudi Arabia
HeadquartersRiyadh
Minister responsible
  • Fahd Al-Saif
Websitemisa.gov.sa/en/

The Ministry of Investment (Arabic: وزارة الاستثمار) is a government ministry in Saudi Arabia responsible for overseeing foreign investment in the Kingdom. It issues licenses to foreign investors and works to develop the country’s investment environment.1

History

The Saudi Arabian General Investment Authority (SAGIA) was established on 10 April 2000. Historically, the Authority was responsible for issuing foreign investment licenses to non-Saudi companies seeking to operate in the Kingdom,23 and did not have a broader role in economic regulation.2

Prince Abdullah bin Faisal, a member of a side branch of the ruling House of Saud, served as Chairman of the Saudi Arabian General Investment Authority from 2000 until his resignation in March 2004.456 During his tenure, he promoted greater openness to foreign investment, along with trade liberalization and privatization efforts.456 His leadership coincided with Saudi Arabia’s accession to the World Trade Organization.6 However, these reforms faced resistance from more conservative elements within the government and parts of the Saudi bureaucracy.45

The Saudi Arabian General Investment Authority later played a role in the Kingdom’s Vision 2030 initiative, which emphasizes economic liberalization, foreign direct investment, and economic diversification.7 In 2017, it launched the Tayseer program to improve the investment climate for private companies.8 The authority signed a number of major non-oil investment agreements.7 At the third annual Future Investment Initiative conference in October 2019, it signed 23 agreements worth a combined $15 billion.9 These included agreements with Modular Middle East, ForDeal, Shiloh Minerals, BRF Brazil Food, KME, and Xylem Inc..7

In October 2011, Pfizer signed an agreement with the Saudi Arabian General Investment Authority to establish its first manufacturing plant in King Abdullah Economic City. In 2016, Pfizer was granted 100% foreign ownership of its legal entity in Saudi Arabia.10 In August 2017, the authority announced that it would allow 100% foreign ownership in the engineering sector for the first time, although eligibility remained limited to established multinational companies.11

In 2020, a royal order replaced the Saudi Arabian General Investment Authority with the Ministry of Investment under Khalid Al-Falih, the former chairman of Saudi Aramco.2 The creation of the ministry formed part of a broader government reshuffle led by Crown Prince Mohammed bin Salman, the de facto ruler of the Kingdom, aimed at accelerating economic diversification beyond petroleum.2 It was initially unclear whether the new ministry would assume broader powers than its predecessor.2

In February 2026, Khalid Al-Falih was relieved of his position as Minister of Investment, and Fahd Al-Saif was appointed as his successor as part of a broader government reshuffle.1213

List of investment officials

No. Portrait Official Took office Left office Time in office
Governors of the Saudi Arabian General Investment Authority (2000–2020)
1 Abdullah bin Faisal 10 April 2000 22 March 2004 3 years, 347 days
2 Amr Al-Dabbagh 23 March 2004 18 May 2012 8 years, 56 days
3 Abdullatif Al-Othman 18 May 2012 7 May 2016 3 years, 355 days
— Saud bin Khalid (Acting) 7 May 2016 22 April 2017 350 days
4 Ibrahim Al-Omar 22 April 2017 25 February 2020 2 years, 309 days
Ministers of Investment (2020–present)
1 Khalid Al-Falih 25 February 2020 12 February 2026 5 years, 352 days
2 Fahd Al-Saif 12 February 2026 Incumbent 149 days
See also

See also

References

References

  1. Asharq Al-Awsat (25 February 2020). "Saudi Royal Decree Forms 3 New Ministries, Merges 2 Others". Asharq Al-Awsat. Retrieved 13 February 2026.
  2. Stephen Kalin, Saudi ex-energy minister bounces back as investment chief, Reuters (February 25, 2020).
  3. Allam, Abeer (30 March 2014). "Saudi red tape frustrates foreign investment". Financial Times. Retrieved 3 December 2016.
  4. "Who's Who: The House of Saud: Prince Abdullah bin Faisal bin Turki Al-Saud". Wide Angle. PBS. October 7, 2004.
  5. Eric Pfanner (June 24, 2003). "Saudis see foreign investment as one tool to polish image: A closed kingdom opens a little". New York Times. International Herald Tribune.
  6. Reuters, Former investment chief is new Saudi ambassador to Washington, Reuters (October 21, 2015).
  7. "Factbox: Major Saudi Arabian non-oil deals since 2016". Reuters. October 29, 2021.
  8. "Saudi Arabian General Investment Authority launches TAYSEER to stimulate investing climate". Arab News. 2017-11-12.
  9. Reuters, Saudi Arabia signs $15 bln in agreements at annual investment forum - statement, Reuters (October 29, 2019).
  10. Rashid Hassan (July 29, 2016). "SAGIA grants Pfizer 100% ownership of KSA business".
  11. Kane, Frank (9 August 2017). "Saudi Arabia to allow 100% foreign ownership of engineering firms". Arab News.
  12. "Al‑Saif: From Engineering Saudi PIF's Strategy to Investment Minister". Asharq Al‑Awsat. 13 February 2026. Retrieved 13 February 2026.
  13. "Fahad Al-Saif appointed Investment Minister". Retrieved 12 February 2026.