Saudi Crown Prince pledges to invest $600bn in US in call with Trump
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Alaina - . January 23, 2025
- . Update: January 23, 2025 4:26 pm
Saudi Arabia has expressed its willingness to expand investment and trade by $600 billion and “potentially beyond that” with the US over the next four years.
In a call with US President Donald Trump, Saudi Crown Prince Mohammed bin Salman “noted the US administration’s ability to create unprecedented economic prosperity and opportunity through anticipated reforms”, the Saudi state news agency reported on Thursday.
In the report, Saudi Arabia did not provide further details on how the $600 billion will be invested, whether it would be public or private spending. However, the investment “could increase further if additional opportunities arise”, the agency quoted the Crown Prince as telling Trump.
During his first term, Trump boosted stronger ties with Gulf nations, including Saudi Arabia. After Trump left office, Saudi Arabia also invested $2 billion in a firm formed by Trump’s son-in-law and former aide Jared Kushner.
After his inauguration on Monday, Trump said he would consider traveling to Saudi Arabia as his foreign visit if Riyadh decided to buy $500 billion worth of American products.
“I did it with Saudi Arabia last time because they agreed to buy $450 billion worth of our product. I said I’ll do it but you have to buy American products, and they agreed to do that,” Trump said, referring to his 2017 visit to Saudi Arabia.
The Crown Prince and Trump also discussed ways to enhance bilateral ties in various areas of cooperation between the two nations, promote peace, security and stability in the Middle East, and combat terrorism, SPA added in the report.
