On Thursday, the Crown Prince of Saudi Arabia announced the kingdom’s intention to invest $600 billion in the United States over the next four years.
This announcement followed a statement from President Donald Trump, who previously indicated the financial commitment associated with his inaugural foreign visit to the kingdom.
President Trump’s 2017 visit to Saudi Arabia marked a departure from the longstanding tradition wherein U.S. presidents typically designate the United Kingdom as their first international stop.
This visit also highlighted the strong ties between his administration and the leaders of the affluent Gulf states, during which President Trump’s real estate company sought business opportunities throughout the region.
According to a report from the state-run Saudi Press Agency, the Crown Prince communicated this investment commitment during a telephone conversation with President Trump.
This interaction represented the President’s first engagement with a foreign leader following his inauguration earlier that week.
The report stated, “The Crown Prince affirmed the kingdom’s intention to broaden its investments and trade with the United States over the next four years, in the amount of $600 billion, and potentially beyond that.”
Crown Prince Mohammed bin Salman provided comments during a phone call with former President Donald Trump, as reported by the state-run Saudi Press Agency early Thursday.
This conversation marked Trump’s first engagement with a foreign leader since his inauguration on Monday.
According to the report, the Crown Prince expressed Saudi Arabia’s commitment to expanding its investments and trade with the United States over the next four years, aiming for a total of $600 billion, with the possibility of exceeding that figure.
However, the report did not specify the sectors where these investments and trade would be directed.
In recent years, the United States has reduced its dependence on Saudi oil exports, which had historically been a foundation of their bilateral relationship.
Meanwhile, Saudi sovereign wealth funds have made significant investments in American businesses and are exploring opportunities in the sports sector as well.
