Saudi Crown Prince Mohammed bin Salman has informed President Donald Trump that the kingdom intends to invest $600 billion in expanding trade and investment 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, the Crown Prince expressed optimism that the expected reforms under the Trump administration could lead to “unprecedented economic prosperity,” the report stated.
The announcement did not specify whether the $600 billion investment would come from public or private funds, nor how the money would be allocated. However, the Crown Prince indicated that the investment could increase if further opportunities emerge, according to the agency’s report.
During his first term, President Trump worked to strengthen ties with Gulf states, including Saudi Arabia. After leaving office, the kingdom invested $2 billion in a firm co-founded by Jared Kushner, Trump’s son-in-law and former advisor.
Trump, speaking after his inauguration on Monday, mentioned the possibility of visiting Saudi Arabia again if the kingdom agreed to purchase $500 billion worth of American products, similar to the deal made 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 products, and they agreed to that,” Trump remarked, recalling his 2017 visit to the Gulf nation.
