King Salman just created a new state security agency

Late on Thursday, Saudi Arabia's King Salman issued a series of royal orders including one that establishes a new apparatus for state security in the kingdom, Arab News reported.  

Named the "Presidency of State Security," the state security agency "will be headed by intelligence chief Abdul Aziz bin Mohammed Al-Howairini, who will hold the rank of a minister," the newspaper wrote. 

The creation of the latest state agency comes as a response to rising terror threats in the kingdom.

According to Arab News, experts believe that its inception will also "rationalize state expenditure, increase revenues, achieve economic growth and competitiveness, and increase exports to reduce reliance on imports." 

The latest decree, which is set to take effect next year, means that counter-terrorism and domestic intelligence efforts will now function under the authority of a single body.

"The General Directorate of Investigation, the Special Security Forces, the Special Emergency Forces, General Security Aviation Command, the General Directorate of Technical Affairs, the National Information Center and all matters related to combatting terrorism and financial investigations will be separated from the Interior Ministry and placed under the new Presidency of State Security," Arab News wrote. 

However, the departments of both state agencies will continue to cooperate together. 

The latest royal orders come weeks after a major development in the kingdom saw King Salman >appointing his son, Mohammed bin Salman bin Abdulaziz as crown prince of the country. 

King Salman concluded the decision after 31 out of 34 members of the Allegiance Council reached an agreement on it. 

In recent months, the country has also seen major overhauls when it comes to >defense. 

In May, Saudi Arabia's Public Investment Fund (PIF) >announced the establishment of a new state-owned military industries company. 

Launched under the kingdom's Vision 2030 and named Saudi Arabian Military Industries (SAMI), the defense company is set to become one of the world's top twenty-five within a decade.

The company> is set to directly contribute around SR14 billion ($3.7 billion) to the kingdom’s GDP, invest over SR6 billion ($1.5 billion) in research, and create over 40,000 jobs by 2030.