Saudi Arabia’s Investment Plans

(Reuters) – Saudi Arabian Crown Prince Mohammed bin Salman informed President Donald Trump that the kingdom plans to invest $600 billion in expanding investment and trade with the United States over the next four years, according to the Saudi State news agency on Thursday.

In a phone call between the two leaders, Bin Salman expressed that the anticipated reforms from the Trump administration could lead to “unprecedented economic prosperity.” The state news agency further reported that Saudi Arabia aims to leverage these conditions for its investments. However, the details regarding the origins of the $600 billion—whether it involves public or private spending, and how the funds would be utilized—were not provided.

Bin Salman indicated to Trump that the investment amount could increase if additional opportunities present themselves.

During his first term, Trump cultivated strong relationships with Gulf states, including Saudi Arabia. Post his presidency, the kingdom invested $2 billion in a firm established by Jared Kushner, Trump’s son-in-law and former aide.

Following his recent inauguration, Trump stated that he would consider making Saudi Arabia his first international visit if it agreed to purchase $500 billion worth of American products, mirroring his actions during 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 recalled regarding his 2017 visit to the Gulf kingdom.