The Kingdom of Saudi Arabia has established a new ministry for industry and mineral resources, according to a royal decree issued on August 30.

The two sectors were previously following the Ministry of Energy, Industry, and Mineral Resources, which will be renamed to the Ministry of Energy.

The transfer of responsibilities will not occur until the end of the current fiscal year, which means that the new ministry will become independent from the Ministry of Energy starting from January 1.

Bandar bin Ibrahim bin Abdullah Al-Khorayef has been appointed as Minister of Industry and Mineral Resources, while Khalid Al-Falih will maintain his position as Minister of Energy.

The bundle of royal decrees also saw the establishment of the Saudi Authority for Data and Artificial Intelligence, and the National Center for Artificial Intelligence, along with other appointments and organizational restructuring.