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Saudi Arabia to raise US investments to nearly one trillion dollars
(MENAFN) Saudi Crown Prince Mohammed bin Salman said Tuesday that the Kingdom will increase its investments in the US from $600 billion to nearly $1 trillion.
"I believe, Mr. President, today and tomorrow we can announce that we are going to increase that $600 billion to almost $1 trillion for real investment," Bin Salman told reporters at the White House alongside US President Donald Trump.
He added that the two countries will sign deals across multiple sectors, including technology, artificial intelligence (AI), and magnets, "that will create a lot of investment opportunities."
Trump interjected, asking: “Now, you're saying to me now that the $600 billion will be $1 trillion?"
"Definitely, because what we are signing it will facilitate that," Bin Salman replied.
Trump thanked him for the pledge, saying, "I want to thank you because you've agreed to invest $600 billion into the United States, and because he's my friend, he might make it a trillion, but I'm going to have to work on him.”
“We can count on $600 billion, but that number could go up a little bit higher," he added.
Saudi Arabia's Ambassador to the US, Princess Reema Bint Bandar Al-Saud, called the meeting between MBS and Trump a “significant day for Saudi-US relations,” following the signing of several major agreements.
She said the two countries signed a "number of landmark" bilateral agreements, noting that they will spur investment in both nations, create job opportunities for Saudis and Americans, and reinforce shared commitments to regional and global security.
"I believe, Mr. President, today and tomorrow we can announce that we are going to increase that $600 billion to almost $1 trillion for real investment," Bin Salman told reporters at the White House alongside US President Donald Trump.
He added that the two countries will sign deals across multiple sectors, including technology, artificial intelligence (AI), and magnets, "that will create a lot of investment opportunities."
Trump interjected, asking: “Now, you're saying to me now that the $600 billion will be $1 trillion?"
"Definitely, because what we are signing it will facilitate that," Bin Salman replied.
Trump thanked him for the pledge, saying, "I want to thank you because you've agreed to invest $600 billion into the United States, and because he's my friend, he might make it a trillion, but I'm going to have to work on him.”
“We can count on $600 billion, but that number could go up a little bit higher," he added.
Saudi Arabia's Ambassador to the US, Princess Reema Bint Bandar Al-Saud, called the meeting between MBS and Trump a “significant day for Saudi-US relations,” following the signing of several major agreements.
She said the two countries signed a "number of landmark" bilateral agreements, noting that they will spur investment in both nations, create job opportunities for Saudis and Americans, and reinforce shared commitments to regional and global security.
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