Profile: Meet Faisal bin Fadel Al-Ibrahim, Saudi Arabia’s new Minister of Economy and Planning

Faisal Al-Ibrahim, Minister of Economy and Planning

Saudi Arabia’s King Salman issued a Royal Decree on May 3, 2021, appointing Faisal bin Fadel bin Mohsen Al-Ibrahim as the Kingdom’s new Minister of Economy and Planning.

Al-Ibrahim has held the position of Deputy Minister of Economy and Planning since February 26, 2018, and he is the supervisor of the secretariat of the Council of Economic Affairs and Development.

He also holds the position of Secretary of the Board of Directors of the National Development Fund, in addition to his membership in a number of councils and committees.

Al-Ibrahim held key positions at Saudi Arabian Oil Co. (Saudi Aramco), including vice president of Aramco Development Co.; head of mergers and acquisitions in New Business Development; project manager of King Salman International Complex for Marine Services and Industries in Ras Al-Khair for Commercial and Financial Affairs and project manager for Vela and Bahri acquisition deal.

Al-Ibrahim holds a master’s degree in business administration from the Massachusetts Institute of Technology, in addition to his bachelor’s degree in economics and a bachelor’s degree in accounting from Pennsylvania State University.