Saudi Crown Prince Mohammed bin Salman commits to a $600 billion investment in the US over the next four years, marking a significant development in US-Saudi relations. This pledge, discussed with President Donald Trump, aims to bolster economic ties and potentially expand beyond the initial target.
Saudi Arabia's Crown Prince Mohammed bin Salman pledged a $600 billion investment in the United States over the next four years in a phone call with President Donald Trump , marking a significant development in US-Saudi relations. This commitment comes after Trump expressed a desire to return to Saudi Arabia on his first foreign trip as President, highlighting the close ties between the two nations.
The Crown Prince emphasized the kingdom's intention to expand its investments and trade with the United States, potentially exceeding the $600 billion target.The nature of these investments remains unclear. While the US has been diversifying its energy sources, Saudi Arabia remains a key supplier of oil. Furthermore, the kingdom heavily relies on US-made weapons and defense systems, which could be a significant component of the investment. Trump's administration has maintained strong ties with Saudi Arabia, despite controversies surrounding the 2018 killing of journalist Jamal Khashoggi. The kingdom has also engaged in diplomatic discussions with the Biden administration regarding normalization of relations with Israel. This latest investment pledge underscores the continued importance of the US-Saudi partnership, especially in a volatile Middle Eastern region. Beyond defense and energy, the investment could encompass various sectors, including technology, infrastructure, and entertainment. Prince Mohammed's ambitious plans for NEOM, a futuristic city in Saudi Arabia's desert, may also benefit from these investments. The $600 billion commitment is a substantial sum, dwarfing the GDP of many nations, and reflects Saudi Arabia's efforts to diversify its economy and reduce its dependence on oil revenue.Trump, during a video address at the World Economic Forum in Davos, hinted at the possibility of increasing the investment to $1 trillion, demonstrating the potential scale of this economic partnership. However, the details of this unprecedented investment remain to be seen and will undoubtedly be a focal point of future discussions between the two countries
INVESTMENTS SAUDI ARABIA UNITED STATES ECONOMIC RELATIONS TRUMP PRINCE MOHAMMED BIN SALMAN
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi crown prince says kingdom intends to invest $600 billion in US during call with TrumpSunStar Publishing Inc.
Read more »
Saudi Arabia gears up for Hajj amid severe heatRIYADH — The deaths of 1,300 pilgrims during the Hajj in Saudi Arabia last year underscored the urgent need to mitigate dangers posed by extreme heat, with crowd management an essential first step, analysts said.
Read more »
Saudi Arabia to Host Talks on Syria's FutureDiplomats from the Middle East and Europe will gather in Riyadh to discuss Syria's future following the fall of Bashar al-Assad. The talks aim to coordinate regional efforts to support Syria's recovery, with a focus on sanctions relief and stabilizing the country.
Read more »
Saudi crown prince unveils $600 billion investment in US over next 4 years, discusses plan with Trump | Jon GambrellDUBAI, United Arab Emirates—Saudi Arabia’s crown prince said Thursday the kingdom wants to invest $600 billion in the United States over the next four years, comments that came after President Donald Trump earlier put a price tag on returning to the kingdom as his first foreign trip.
Read more »
Saudi prepares for another hajj menaced by extreme heatRIYADH, Saudi Arabia — The deaths of 1,300 pilgrims during the hajj in Saudi Arabia last year underscored the urgent need to mitigate dangers posed by extreme heat, with crowd management an essential first step, analysts say.
Read more »
Lacson Pledges Transparency in Budget if Elected to SenateFormer Senator Panfilo Lacson outlines his legislative priorities for a potential Senate comeback, focusing on budget transparency and public participation.
Read more »