Crown Prince: Saudi Arabia pledges $600 billion investment in US over four years

On January 23, Saudi Crown Prince Mohammed bin Salman told former US President Donald Trump that Saudi Arabia plans to invest $600 billion in US trade and investment over the next four years.

During a phone call between the two leaders, the Crown Prince expressed confidence in the Trump administration’s proposed reforms, describing them as a potential catalyst for “unprecedented economic prosperity,” Caliber.Az reports via foreign media.

The report noted that Saudi Arabia plans to leverage its investments to benefit from these anticipated conditions. However, it did not provide specific details on the origin of the $600 billion, whether it would come from public or private funds, or the methods of deployment.

The Crown Prince was quoted as telling Trump, “the investment could increase further if additional opportunities arise.”

Trump, who maintained strong ties with Gulf states, including Saudi Arabia, during his presidency, acknowledged Riyadh’s significant financial contributions. Following his departure from office, the kingdom invested $2 billion in a firm established by Jared Kushner, Trump’s son-in-law and former senior adviser.

In remarks made after his inauguration on January 20, Trump indicated he might consider Saudi Arabia as his first international destination if the kingdom agreed to purchase $500 billion worth of American products, mirroring a deal from his first term.

“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 product, and they agreed to do that,” Trump said, referring to his 2017 visit to the Gulf nation.

By Aghakazim Guliyev