TLDR
- Crown Prince Mohammed bin Salman announced Saudi Arabia’s intention to invest $600 billion in the US over the next four years during a call with President Trump
- Trump mentioned possibly making Saudi Arabia his first foreign visit again, as he did in 2017, citing potential investment deals
- The investment pledge comes amid Saudi Arabia’s ongoing domestic projects, including the $500 billion NEOM city and 2034 FIFA World Cup preparations
- The announcement represents a major increase from previous Saudi investment commitments in the US
- Secretary of State Marco Rubio also held talks with the Crown Prince on the same day
Article: Saudi Arabia’s Crown Prince Mohammed bin Salman has announced plans for the kingdom to invest $600 billion in the United States over the next four years.
The declaration came during a phone call with President Donald Trump on Thursday, as reported by the state-run Saudi Press Agency.
The massive investment pledge represents one of the largest commitments of foreign capital to the United States in recent history. According to the Saudi Press Agency’s report, the crown prince expressed his intention to expand both investments and trade relations between the two nations through 2029.
The timing of the announcement coincides with recent statements by President Trump, who on Monday discussed the possibility of making Saudi Arabia his first foreign destination after returning to the White House. Trump referenced his 2017 visit to the kingdom, which broke with the traditional practice of U.S. presidents making their first foreign trip to the United Kingdom.
During his Oval Office remarks, Trump tied potential travel plans to investment agreements, noting that his previous Saudi Arabia visit resulted in product purchase commitments. “If Saudi Arabia wanted to buy another $450 billion or $500 — we’ll up it for all the inflation — I think I’d probably go,” Trump told journalists.
The nature of the planned $600 billion investment remains unclear, with no specific details provided about which sectors might receive funding. Historically, Saudi Arabia has shown interest in various U.S. sectors, from technology to entertainment and sports.
U.S.-Saudi military cooperation continues to be a cornerstone of bilateral relations, with the kingdom heavily reliant on American-made weapons and defense systems. This military partnership could form a portion of the planned investment package.
The announcement comes at a time when Saudi Arabia faces its own financial pressures. Global oil prices have remained lower than peak levels seen during the coronavirus pandemic, affecting the kingdom’s primary source of revenue.
Despite these challenges, Saudi Arabia continues to pursue ambitious domestic projects. The kingdom is developing NEOM, a $500 billion futuristic city project on the Red Sea coast, under Prince Mohammed’s leadership. Additionally, substantial infrastructure investments will be required to prepare for hosting the 2034 FIFA World Cup.
The investment pledge arrived on a day of diplomatic activity, with U.S. Secretary of State Marco Rubio also holding discussions with Crown Prince Mohammed bin Salman. The content of their conversation was not detailed in immediate reports.
The relationship between the United States and Saudi Arabia has evolved in recent years. While oil trade once dominated bilateral relations, U.S. dependence on Saudi oil exports has decreased. Instead, Saudi sovereign wealth funds have taken larger positions in American businesses and shown growing interest in sports investments.
This latest commitment builds upon previous Saudi investment initiatives in the United States. The kingdom’s sovereign wealth fund has already made substantial investments in various American companies and continues to explore new opportunities.
The phone call marked Trump’s first reported contact with a foreign leader since his return to the White House, though this has not been officially confirmed by administration sources.
The Saudi Press Agency’s report indicated that the $600 billion figure could potentially increase beyond the stated amount, suggesting room for additional investment growth over the four-year period.
This investment announcement occurs against the backdrop of ongoing discussions between Saudi Arabia and the previous Biden administration regarding potential diplomatic recognition of Israel, which would involve U.S. defense commitments and other forms of support.
The White House had not released its own readout of the call at the time of reporting, leaving some details of the conversation yet to be confirmed by U.S. officials.
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