Saudi Arabia pledges $600b to boost US ties

File Source: The Express Tribune

Saudi Crown Prince and Prime Minister Mohammed bin Salman has unveiled a $600 billion investment plan aimed at bolstering economic ties with the United States. In a phone conversation on Thursday, the Crown Prince and then-President Donald J. Trump discussed ways to deepen their strategic partnership across various sectors.

During the call, the Crown Prince extended his congratulations to President Trump on behalf of King Salman bin Abdulaziz and the Saudi leadership, expressing optimism for America’s progress under Trump’s administration. “We wish the American people continued progress and prosperity,” he said.

The discussion touched on key areas of collaboration, including efforts to foster peace and stability in the Middle East and combat terrorism. The leaders also explored new opportunities to expand trade and investment, with the Crown Prince lauding the US administration’s proposed economic reforms. He described these reforms as “creating unprecedented opportunities for prosperity” and emphasized Saudi Arabia’s eagerness to engage in these developments through robust partnerships.

Highlighting Saudi Arabia’s commitment to the partnership, the Crown Prince announced the Kingdom’s intention to invest $600 billion in the US economy over the next four years, with possibilities for further expansion. The initiative underscores Riyadh’s determination to broaden trade and investment ties with Washington.

President Trump expressed gratitude for the warm sentiments from King Salman and the Crown Prince. He reaffirmed his administration’s commitment to strengthening the strategic relationship, emphasizing, “We are keen to work with Saudi Arabia on initiatives that advance our shared interests.”

The ambitious investment plan is seen as a pivotal step in fortifying the decades-long alliance between the two nations, signaling mutual resolve to advance economic and security objectives in the years ahead.