Saudi Arabia’s Investment Minister Khalid al-Falih discussed promoting non-oil investments, the Middle Eastern conflict and President Donald Trump’s relations with Saudi Arabia.
Saudi Arabia’s Crown Prince Mohammed bin Salman told the President donald trump According to reports, the kingdom plans to invest $600 billion in new investments and trade with the US over the next four years.
The Saudi state news agency reported that, during a phone call between the two leaders, bin Salman said reforms expected from the Trump administration could create “unprecedented economic prosperity.”
The agency also said Saudi Arabia would like to take advantage of these conditions, although it did not say where the $600 billion would come from, how it would be deployed and whether it would public or private spending,
The report said Bin Salman told Trump that “investment could increase further if additional opportunities arise.”
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Saudi Arabia’s Crown Prince Mohammed bin Salman shakes hands with President Donald Trump at the G20 leaders’ summit in Osaka, Japan, on June 29, 2019. (Reuters/File Photo/Reuters Photo)
During his first term, President Trump forged closer ties with Saudi Arabia and other Gulf countries. In fact, after Trump left office, Saudi Arabia invested $ 2 billion in a firm formed by Trump’s son-in-law and former aide Jared Kushner.
During his inauguration on Monday, Trump said he would consider creating saudi arabia If the capital of Riyadh agreed to buy $500 billion worth of American products, it would be their first destination for foreign travel.
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Russian President Vladimir Putin presents Saudi Arabia’s Crown Prince Mohammed bin Salman a gift made from a mammoth’s tusk while the head of the Chechen Republic, Ramzan Kadyrov, looks on in Riyadh, Saudi Arabia, Oct. 14, 2019. (Reuters/File Photo/Reuters Photo)
“I did this to Saudi Arabia last time because they agreed to bury $450 billion worth of our product,” Trump said in reference to his 2017 visit to the country. “I said, ‘I’ll do it, but you have to buy American product,’ and they agreed.”
After winning in the Oval Office in November, Trump and several others attended a UFC fight at Madison Square Garden.
Attendees with Trump included Elon Musk, Kid Rock, RFK Jr., Tulsi Gabbard, House Speaker Mike Johnson and Yasir al-Rumayyan, head of Saudi Arabia’s Public Investment Fund (PIF).
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The PIF is Saudi Arabia’s sovereign wealth fund, controlled by bin Salman and governed by Al-Rumayyan.
According to Reuters, in July, PIF was estimated to have assets worth about $925 billion.
Reuters contributed to this report.
