Advertisements
Saudi Arabia has announced plans to invest $600 billion in the United States over the coming four years, as reported by the Saudi state news agency on Thursday. Crown Prince Mohammed bin Salman conveyed to President Donald Trump that the kingdom aims to enhance investment and trade relations with the U.S. in the near future.
During a phone conversation between both leaders, Bin Salman mentioned that anticipated reforms from Trump’s administration could lead to “unprecedented economic prosperity,” according to the state news outlet.
The report did not specify whether this $600 billion investment would come from public or private sources or how it would be allocated. Moreover, it indicated that investments could potentially increase if more opportunities arise.
Trump has established strong relationships with Gulf nations like Saudi Arabia during his first term. Notably, after leaving office, he received a $2 billion investment from a firm co-founded by Jared Kushner, his son-in-law and former advisor.
Following his recent inauguration on Monday, Trump expressed interest in making Saudi Arabia his first foreign destination if Riyadh agreed to purchase $500 billion worth of American goods—a move similar to what he had done during his first term. “I did it with Saudi Arabia last time because they agreed to buy $450bn worth of our product,” Trump stated regarding his 2017 visit to the kingdom.
Advertisements
