Saudi Arabia’s Crown Prince Mohammed bin Salman announced plans on Friday to invest $600 billion in the United States.
Saudi Arabia’s Crown Prince Mohammed bin Salman announced plans on Friday to invest $600 billion in the United States over the next four years. The move aims to deepen economic ties between the two nations, expanding trade and investment in both public and private sectors.
This announcement follows a phone call between the Crown Prince and U.S. President Donald Trump, who has made efforts to strengthen relations with Saudi Arabia throughout his previous presidency.
Faisal al-Ibrahim, Saudi Arabia’s Economy Minister, revealed the details of the proposed investment at the World Economic Forum in Davos, emphasizing that the funds would be directed towards a range of projects, including procurement from both Saudi public and private sectors.
Al-Ibrahim also addressed questions regarding oil market stability, stating that Saudi Arabia and OPEC's goal remains long-term oil market stability, rejecting suggestions to cut oil prices at the behest of President Trump.
The $600 billion investment, which includes a variety of sectors, represents a shift from the historically oil-dependent U.S.-Saudi relationship. Saudi Arabia has recently increased investments in U.S. businesses, including sports and defense sectors. The U.S. has also increasingly reduced its dependency on Saudi oil in favor of other energy sources, but defense ties remain strong, with Saudi Arabia heavily reliant on U.S. weapons and military systems.
The announcement of such a significant investment comes as Saudi Arabia seeks to position itself as a key global economic player, reducing its dependence on oil revenues and fostering deeper ties with the U.S.
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