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Saudi Arabia is planning 810 billion dollar in new investments and trade with the US over the next four years
Published On Thu, 23 Jan 2025
Tanmay Bhardwaj
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Saudi Crown Prince Mohammed bin Salman recently informed President Donald Trump that Saudi Arabia intends to invest a substantial $600 billion (S$810 billion) in bolstering trade and investment with the United States over the next four years, according to a report from the Saudi State News Agency on January 23. This ambitious investment is expected to capitalize on the anticipated economic reforms from the Trump administration, which the Crown Prince believes could create "unprecedented economic prosperity" for both nations. The report did not provide specific details regarding whether the $600 billion would come from public or private funding, nor did it clarify how the money would be allocated or used across sectors. However, it was noted that the amount could increase further if additional opportunities arise.
During the conversation, the Crown Prince reiterated his country’s desire to maximize investment in the context of favorable economic conditions. The relationship between the US and Saudi Arabia under Trump’s administration has been marked by close ties, particularly with the Gulf states. In fact, one notable development was the $2 billion investment by Saudi Arabia in a company created by Trump’s son-in-law, Jared Kushner, after Trump left office.
Trump, during his inauguration on Monday, mentioned that he might make Saudi Arabia his first foreign visit if the kingdom agreed to purchase $500 billion worth of American products. He referred to a similar deal made during his first term, when Saudi Arabia committed to buying $450 billion in US goods, an agreement that helped solidify the US-Saudi relationship. This strategic trade and investment dynamic remains central to the countries' ongoing partnership and could pave the way for future agreements to further strengthen economic ties.
Disclaimer: This image is taken from Reuters file