Saudi Arabia to Invest $600 Billion in US Economy: Key Sectors & Impact

Saudi Arabia to Invest $600 Billion in US Economy: The Saudi State news agency said that Saudi Arabian Crown Prince Mohammed bin Salman told President Donald Trump that the kingdom wants to put $600 billion into expanded investment and trade with the United States over the next four years.

In a phone call between the two leaders, the crown prince said the Trump administration's expected reforms could create "unprecedented economic prosperity", the state news agency reported.

During his first term, Trump fostered close ties with Gulf states including Saudi Arabia. The country invested $2 billion in a firm formed by Jared Kushner, Trump's son-in-law and former aide, after Trump left office.

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Both men, who have had warm ties since Trump’s first tenure, also discussed cooperation between Saudi Arabia and the US in efforts to bring peace and stability in the Middle East, and to fight terrorism.

The agency also said Saudi Arabia would like to capitalize on these conditions, though it did not say where the $600 billion would come from, how it would be deployed and if it would be public or private spending.

Bin Salman told Trump the investment "could increase further if additional opportunities arise," the report noted.

The conversation between the US President and Crown Prince happens at a volatile time in the Middle East. Saudi Arabia's opponent, Iran, has been weakened by defeats by its proxy militias, Hamas and Hezbollah, through Israel, the report said.

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President Bashar al-Assad of Syria, a major ally has been overthrown and forced into exile. A ceasefire came into effect in Gaza early this week on Sunday, January 19, temporarily halting the war between Israel and Hamas.

The crown prince’s move could help secure a return visit by Trump to his country. The US leader’s first overseas trip as president in 2017 was to Saudi Arabia, which Trump earlier this week said came after the kingdom agreed a substantial investment in buying US goods, including weaponry.

Trump told reporters he’d be happy to visit Saudi Arabia again if it wanted to buy another $450 billion or $500 billion worth of US goods. The $600 billion offer would easily clear that threshold.

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