Saudi Arabia pledges to invest $600 billion in US

Saudi Arabia's Crown Prince Mohammed Bin Salman (MBS) announced a substantial investment plan of USD 600 billion in the US over the next four years.

In a phone call with US President Donald Trump after his re-election and inauguration, Bin Salman confirmed the planned investment, as reported by the Saudi Press Agency (SPA) on Thursday.

This investment pledge comes in the wake of Trump reflecting on his first presidential trip to Saudi Arabia in 2017, which he attributed to the Saudi's commitment to purchase hundreds of billions of dollars worth of American goods.

“The first foreign trip typically has been with the UK, but … I did it with Saudi Arabia last time because they agreed to buy USD 450 billion worth of our products,” Trump stated during a press briefing in the Oval Office following his inauguration.

He added, “If Saudi Arabia wanted to buy another USD 450 billion or USD 500 – we’ll up it for all the inflation – I think I’d probably go.”

While specific details regarding the nature of the Saudi investments remain undisclosed, the announcement could pave the way for Trump to make a return visit to Riyadh as his first official trip.