Vision 2030

Fahad

Meet Fahad Al-Saif, PIF exec and Saudi Arabia's new investment minister

Saif previously led investment strategy at the kingdom's sovereign wealth fund and has held senior roles at the Saudi Awwal Bank and HSBC Saudi Arabia.

Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Mohammed bin Salman looks on during a meeting with US President Donald Trump (not pictured) in the Oval Office of the White House in Washington, DC on November 18, 2025. Saudi Crown Prince Mohammed bin Salman arrived at the White House to fanfare and a jet flyover Tuesday, in his first visit to the United States since the 2018 murder of journalist Jamal Khashoggi. (Photo by Brendan SMIALOWSKI / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Ima

Saudi Arabia names new investment minister as Vision 2030 funding lags

The leadership change comes as slowing megaprojects and weak foreign inflows expose gaps in the kingdom’s ambitious economic overhaul.

Riyadh

Analysis

In Saudi Arabia, Erdogan fosters security alignment, $30B trade push

The Turkish president’s visit cemented Ankara and Riyadh’s accelerating convergence as regional crises mount and Gulf rivalries sharpen.

Ezgi Akin

In Ankara, reporting on diplomacy, EU-Turkey ties, NATO

Aerial view of Riyadh at night with illuminated modern skyscrapers and busy streets under a clear dark sky, Al Olaya street.

Analysis

Saudi Arabia downsizes megaprojects, chases cash amid AI push

After years of breakneck spending, Crown Prince Mohammed bin Salman’s flagship plan to diversify the oil-dependent economy — dubbed Vision 2030 — is facing a fresh round of delays and recalibration as softer oil prices squeeze public finances and force tougher choices.

Samuel Wendel

By Samuel Wendel , Jack Dutton

Latest News

UAE launches sovereign open-source AI model K2 Think: What to know

Advertisement boards on main road of the city Sheikh Zayed Road.

United Arab Emirates

Interview

Saudi Arabia keeps doors open to US, China in critical minerals race

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef addresses the Future Minerals Forum in Riyadh, on Jan. 14, 2026.

Bandar Alkhorayef

Bandar Alkhorayef

Saudi Minister of Industry and Mineral Resources

Saudi Arabia to open stock markets to all foreign investors in February: What to know

FAYEZ NURELDINE/AFP via Getty Images

Saudi Arabia awards record number of mining licenses in Vision 2030 push

Railroad tracks by a quarry at the Jubail Industrial City, north of Dammam, in Saudi Arabia's Eastern province, overlooking the Gulf, Dec. 11, 2019.

WANG ZHAO/AFP via Getty Images

Qataris hail Chinese robotaxis as Gulf embraces driverless cars

Three Chinese companies have publicly announced plans to roll out the autonomous vehicles in the Gulf.

Italian designer Giorgio Armani acknowledges the audience during One Night Only series in Dubai on October 26, 2021.

From Milan to Dubai: Giorgio Armani's sprawling Middle East legacy

The Italian designer's eponymous brand has luxury real estate in the Gulf, as well as North Africa.

United Arab Emirates

Saudi Commerce Minister Majid al-Kassabi and Business and Trade Secretary Jonathan Reynolds at the Great Futures summit, London, Sept. 3.

Saudi Arabia, UK announce over $445M in investments: What to know

The agreements aim to boost bilateral trade and will also support Saudi Vision 2030 reforms to diversify the economy away from reliance on oil by the end of the decade.

British Chef Gordon Ramsey shouts instructions from his kitchen at his Chelsea restaurant Jan. 12, 2001.

Culture

Gordon Ramsay chef school heads to Saudi Arabia: What to know

Saudi Arabia lacks the plethora of renowned restaurants the neighboring UAE boasts, but the kingdom’s fine dining scene may be on the rise.

Visitors at the first night of the International Falcon Breeders Auction 2025 in Malham city on Aug. 5, 2025.

Culture

Saudi Arabia’s falcon auction aims to spin tradition into tourism gold

Under Vision 2030, Saudi Arabia is seeking to diversify its economy and cultural tourism.

People wait for the arrival of relatives at King Khalid International Airport in the Saudi capital of Riyadh on the first commercial flight from Qatar on Jan. 11, 2021.

Saudi Arabia’s King Khalid airport sets record with 3.9M passengers in July

Air travel is a part of the Vision 2030 plan to diversify the economy, though challenges remain in attracting tourists and catching up to other Gulf airports.

GIUSEPPE CACACE/AFP via Getty Images

Saudi mining licenses soar as kingdom hunts critical metals: What to know

The Saudi government has cleared hurdles for the mining industry in its pursuit of critical materials.

A picture taken on December 7, 2022 in Riyadh, shows the Chinese and the Saudi flags adorning a street ahead of the Chinese president's visit to the Saudi capital. - Chinese President Xi Jinping will make a three-day visit to Saudi Arabia this week, meeting the king and de facto ruler of the world's biggest oil exporter. (Photo by Fayez Nureldine / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Saudi Arabia's Diriyah awards Chinese firm $1.53B contract: What to know

Saudi Arabia’s Diriyah Company has awarded a major contract to China Harbour Engineering Company for the development of a Vision 2030 project.

People attend the international esports gamers Next World Forum, in the Saudi capital, Riyadh, on Sept. 7, 2022.

Analysis

Elite gamers chase $70M at Saudi Esports World Cup as Riyadh eyes bigger prize

Although aligned with Riyadh’s overall sports strategy, the Esports World Cup also plays a unique role in showcasing the Gulf nation’s tech and pop culture reach.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

CORRECTION / A picture taken in Riyadh shows the sign in Arabic of an Aramco gas station on the outskirts of the Saudi capital Riyadh on November 5, 2024. Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on November 5, 2024, citing low oil prices. (Photo by Fayez Nureldine / AFP) / "The erroneous mention[s] appearing in the metadata of this photo by Fayez Nureldine has been modified in AFP systems in the following manner: changing the second phrase to refer to Saudi

Saudi PIF reports 60% profit drop as inflation, low oil prices bite

The PIF said that the impairments were mainly related to changes in operational plans and increases in budgeted costs.

Neom

France's EDF reportedly dropped from Saudi Neom project: What to know

EDF was appointed by the Saudi government in January 2024 to carry out preliminary studies on the conception and construction of a hydroelectric power plant in Neom.

President Donald Trump shakes hands with Saudi Arabia's crown prince, Mohammed bin Salman, in the Oval Office of the White House on March 20, 2018.

Analysis

Will Trump's push for Gulf investment align with regional economic realities?

During his May 13-16 trip, Trump aims to unveil trillions of dollars in Gulf investment and trade commitments in the United States.

In Bristol, reporting on regional business, climate change, AI, tech