RIYADH: Saudi Crown Prince Mohammed bin Salman said that the Kingdom of Saudi Arabia wanted to expand its investment in the United States in the coming years.
In a telephone conversation, Crown Prince told President Donald Trump that Saudi Arabia wants to put $600 billion into expanded investment and trade with Washington over the next four years.
Mohmmad bin Salman said the Trump administration’s expected reforms could create “unprecedented economic prosperity”, the Saudi State news agency quoted Mohammad bin Salman as saying.
Crown Prince, however, didn’t specify the details of the $600 billion investment whether it would be public or private spending.
The investment “could increase further if additional opportunities arise”, the agency quoted Bin Salman as telling Trump.
Trump’s first administration fostered close ties with Gulf states, including Saudi Arabia. After Trump left office, the country invested $2 billion in a firm formed by Jared Kushner, Trump’s son-in-law and former aide.
Trump said after taking the oath of his office on Monday that he would consider making Saudi Arabia his first destination for a foreign visit if KSA agreed to buy $500 billion worth of American products.
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“I did it with Saudi Arabia last time because they agreed to buy $450bn worth of our product. I said I’ll do it but you have to buy American products, and they agreed to do that,” Trump said, referring to his 2017 visit to the Gulf kingdom.
