<The Custodian of the Two Holy Mosques King Salman bin Abdulaziz issued a royal decree appointing Prince Mohammed bin Salman, Deputy Crown Prince and Chairman of the Council of Economic Affairs and Development, as Chairman of the Economic Cities Authority. The royal decree included amending paragraph 1 of Article 4 of the Economic Cities Authority's organization to read as follows: “The Authority shall have a Board of Directors headed by the President of the Council of Economic Affairs and Development: ”The Authority shall have a Board of Directors headed by the Chairman of the Council of Economic Affairs and Development, and the membership of a number of experienced and specialized people from the public and private sectors, nominated by the Chairman of the Council, whose appointment shall be issued by a royal decree specifying their remuneration."
The Economic Cities Authority is linked to the King and enjoys legal personality and financial and administrative independence, and assumes full supervision of the economic cities - administratively and financially - in order to achieve their objectives in localizing national capital and attracting foreign investments, and the objectives of the development plans in Saudi Arabia.