MOSCOW (Pakistan Point News / Sputnik - 26th February, 2020) The Russian Direct Investment Fund (RDIF) welcomes new ministerial appointments in Saudi Arabia, especially the establishment of the Investment Ministry to be led by former Energy Minister Khalid Al-Falih, which will contribute to the development of investment cooperation with Russia, RDIF CEO Kirill Dmitriev said on Tuesday.
"We believe that the creation of a new ministry will help Russia and Saudi Arabia achieve the goals of increasing mutual investments set during the visit of Russian President Vladimir Putin to the kingdom in 2019. We look forward to working with Mr. Al-Falih and the new ministry on new projects in various sectors of the economy, from the development of artificial intelligence to energy. These projects will benefit our countries," Dmitriev told reporters.
Earlier on Tuesday, the state-run Saudi Press Agency reported that the kingdom appointed Al-Falih as Investment Minister, almost six months after he was removed from one of the most significant posts in Saudi Arabia energy sector.
Al-Falih headed Saudi Aramco, the world's largest oil and gas company, between 2009-2015, and in 2015 was appointed as the kingdom's health minister. In early September 2019, Al-Falih was removed from Aramco's board of directors due to the company's preparations for the Initial Public Offering.
