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.
China has issued a formal protest against the United States over recent remarks by Defence Secretary Pete Hegseth, accusing Washington of “vilifying” Beijing and promoting confrontation in the Indo-Pacific.
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Iran said on Saturday that it has officially received a new nuclear deal proposal from U.S. President Donald Trump, delivered by Oman during a diplomatic visit to Tehran.
The US Supreme Court has ruled that the Trump administration can temporarily end legal protections for more than 500000 migrants from Cuba, Haiti, Nicaragua, and Venezuela, exposing them to possible deportation.
More than 500 people were arrested and two fatalities reported following chaotic celebrations across France after Paris Saint-Germain's historic Champions League victory, according to the interior ministry.
Wildfires in western and central Canada have triggered the evacuation of more than 26,000 people, with provinces including Manitoba, Saskatchewan and Alberta facing major threats.
Indonesian rescuers are continuing their efforts to locate eight people still missing after a quarry collapse in West Java left at least 17 dead and six injured, with authorities warning of ongoing landslide risks.
China has issued a formal protest against the United States over recent remarks by Defence Secretary Pete Hegseth, accusing Washington of “vilifying” Beijing and promoting confrontation in the Indo-Pacific.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 1st, covering the latest developments you need to know.
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More than 500 people were arrested and two fatalities reported following chaotic celebrations across France after Paris Saint-Germain's historic Champions League victory, according to the interior ministry.
Wildfires in western and central Canada have triggered the evacuation of more than 26,000 people, with provinces including Manitoba, Saskatchewan and Alberta facing major threats.
China has issued a formal protest against the United States over recent remarks by Defence Secretary Pete Hegseth, accusing Washington of “vilifying” Beijing and promoting confrontation in the Indo-Pacific.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 1st, covering the latest developments you need to know.
Türkiye’s first floating natural gas production platform, Osman Gazi, reached Filyos Port in Zonguldak on May 31.
More than 500 people were arrested and two fatalities reported following chaotic celebrations across France after Paris Saint-Germain's historic Champions League victory, according to the interior ministry.
Wildfires in western and central Canada have triggered the evacuation of more than 26,000 people, with provinces including Manitoba, Saskatchewan and Alberta facing major threats.
Indonesian rescuers are continuing their efforts to locate eight people still missing after a quarry collapse in West Java left at least 17 dead and six injured, with authorities warning of ongoing landslide risks.
China has issued a formal protest against the United States over recent remarks by Defence Secretary Pete Hegseth, accusing Washington of “vilifying” Beijing and promoting confrontation in the Indo-Pacific.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 1st, covering the latest developments you need to know.
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