ALBAWABA – Saudi Arabia announced that Crown Prince Mohammed bin Salman plans to invest approximately $600 billion in partnership with the United States (US) over the next four years, during Donald Trump’s presidency.
Saudi Arabia to boost investment with the US
Saudi Crown Prince Mohammed bin Salman stated that the kingdom plans to expand its investments and trade relations with the United States by $600 billion over the next four years, during Donald Trump’s presidency.
According to the Saudi Press Agency, the Crown Prince emphasized the economic opportunities for both countries during a phone call with US President Donald Trump.
No clear details have been provided yet on whether the amount will be allocated to private or public spending, but it will surely focus on trade and general investments.
Trump stated his plans to visit Saudi Arabia if the Kingdom agrees to buy $500 billion worth of American products. (Shutterstock)
“The investment could increase further if additional opportunities arise", as quotes by Bin Salman.
Trump and Saudi connections
Notably, Trump established strong connections with the Gulf countries, particularly Saudi Arabia, during his first presidency. Saudi Arabia invested about $2 billion in a firm founded by Jared Kushner, Trump’s son-in-law.
Following his latest inauguration, Trump stated his plans to visit Saudi Arabia if the Kingdom agrees to buy $500 billion worth of American products.
Trump said: "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.”
