Saudi Arabia reconstitutes Cabinet and appoints new economic leaders

King Salman bin Abdulaziz Al Saud has issued royal decrees to reconstitute the Saudi Council of Ministers. Under the chairmanship of Crown Prince Mohammed bin Salman, the reshuffle retains the current members of the Cabinet. This action follows a review of the Cabinet Law, specifically Article 9, which mandates the reconstitution of the Council via royal decree at the end of its four-year term.

In addition to the Cabinet restructuring, the decrees introduced new leadership for two key economic entities. Prince Abdulaziz bin Salman, who serves as the Minister of Energy and Minister of Industry and Mineral Resources, has been appointed chairman of the Board of the Local Content and Government Procurement Authority, succeeding Bandar Al-Khorayef.

Mazen Al-Sudairi has also been appointed chairman of the Capital Market Authority with the rank of minister, replacing Mohammed Al-Quwaiz. These appointments target the regulation of financial markets and domestic procurement as part of the country's ongoing economic reforms.