Saudi Arabia has named Fahad Al-Saif as its new investment minister. Bloomberg posted on X that Al-Saif, previously associated with the kingdom’s sovereign wealth fund, will now lead efforts to attract more capital to the country. This appointment is part of Saudi Arabia's broader strategy to diversify its economy and reduce reliance on oil revenues. Al-Saif's experience in the financial sector is expected to play a crucial role in enhancing the kingdom's investment landscape.