Riyadh: Saudi Arabia’s King Salman bin Abdulaziz has issued three royal decrees, including a decision to reconstitute the country’s Cabinet under the leadership of Crown Prince and Prime Minister Mohammed bin Salman.
The Cabinet has been reconstituted for a new four-year term. The new formation retains the existing members of the Saudi government.
Cabinet Reformed for Four-Year Term
According to the royal decrees, the Cabinet’s new formation follows a review of previous royal orders and relevant provisions of the Saudi Cabinet system.
The system states that the Cabinet’s term cannot exceed four years. It also allows the Cabinet to be reconstituted through a royal decree during that period.
The latest decision keeps Crown Prince Mohammed bin Salman at the head of the government.
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Prince Abdulaziz bin Salman Appointed to Key Board
In another major decision, Prince Abdulaziz bin Salman was appointed chairman of the Board of Directors of the Local Content and Government Procurement Authority.
The decree removed Bandar Alkhorayef from the position of chairman.
The appointment gives Prince Abdulaziz a key role in an authority that focuses on strengthening local content and supporting government procurement within Saudi Arabia.
Capital Market Authority Board Also Reshuffled
The royal decrees also brought a change to the leadership of the Capital Market Authority’s board.
Mohammed Al-Quwaiz was relieved of his position as chairman.
Mazen Al-Sudairi was appointed the new chairman of the Capital Market Authority’s board at ministerial rank.
Saudi Leadership Continues Institutional Reforms
The latest decrees come as Saudi Arabia continues to advance economic and institutional reforms under Vision 2030.
The changes affect key government and economic institutions. They are also expected to support the Kingdom’s efforts to strengthen local production, government procurement and financial market development.
The reconstituted Cabinet will continue its work under the leadership of Crown Prince Mohammed bin Salman for the new four-year term.
