The Saudi Arabian General Investment Authority (SAGIA) was established on 10 April 2000. Historically, the Authority was responsible for issuing
foreign investment licenses to non-Saudi companies seeking to operate in the Kingdom, and did not have a broader role in economic regulation. During his tenure, he promoted greater openness to foreign investment, along with trade liberalization and privatization efforts. In 2017, it launched the Tayseer program to improve the investment climate for private companies. The authority signed a number of major non-oil investment agreements. These included agreements with Modular Middle East, ForDeal, Shiloh Minerals, BRF Brazil Food, KME, and
Xylem Inc.. In August 2017, the authority announced that it would allow 100% foreign ownership in the engineering sector for the first time, although eligibility remained limited to established multinational companies. In 2020, a royal order replaced the Saudi Arabian General Investment Authority with the Ministry of Investment under
Khalid Al-Falih, the former chairman of
Saudi Aramco. == List of investment officials ==