Saudi Arabia pledges to invest $600bn in the US under President Trump

Saudi Arabia’s Prime Minister and Crown Prince Mohammed bin Salman told President Donald Trump that the kingdom plans to expand its investments and trade with the US by $600bn in the coming four years, according to the state-run Saudi Press Agency (SPA).

Crown Prince Mohammed bin Salman spoke to the US President in a congratulatory phone call on Wednesday.

During the call, the two leaders discussed ways to enhance bilateral ties in various areas. Crown Prince Mohammed bin Salman said Saudi Arabia was eager to seize partnership and investment opportunities created by the new administration’s anticipated reforms, which could achieve “unprecedented economic prosperity.”

SPA quoted Crown Prince Mohammed bin Salman as telling President Trump that the investment “could increase further if additional opportunities arise.”

HRH the Crown Prince Holds Phone Call with President Trump.https://t.co/Xc75KDLnOQ#SPAGOV pic.twitter.com/ANQUyfJYPd

— SPAENG (@Spa_Eng) January 23, 2025

Following his inauguration on Monday, Trump said that he would consider making Saudi Arabia his first destination for a foreign visit if the kingdom agreed to buy $500bn worth of American products, similar to what he did in his first term.

Earlier this month, Hussein Sajwani, founder and chairman of DAMAC Properties, said he expects more investments from the oil-rich Gulf into the US as President Trump’s second term in office heralds a “pro-business” climate.

The Emirati billionaire plans to invest $20bn in data centres in eight US states over the coming years, joining a number of corporates and executives angling to win favour from the Trump administration.

Read: DAMAC Group’s Hussain Sajwani to invest $20bn in US data centres