Saudi Arabia dismisses investment minister ahead of Vision 2030 plan update

Saudi Arabia's King Salman has dismissed Investment Minister Khalid bin Abdulaziz Al-Falih by royal decree. This cabinet reshuffle comes as the government prepares to unveil a revised plan for its Vision 2030 strategy amid slower economic growth and lower revenues. Fahd bin Abduljalil bin Ali al-Saif, from the Public Investment Fund, has been appointed as the new minister. The updated strategy is expected to prioritize sectors like minerals, AI, and tourism while scaling back some ambitious projects like The Line and a proposed ski resort in Neom.