Mohammed bin Salman, the Crown Prince of Saudi Arabia, announced during his visit to Washington that he plans to increase Saudi Arabia’s investment in the United States to $1 trillion.
Reuters reported today that this surge in investment reflects Riyadh’s efforts to strengthen economic ties with the Trump administration.
Bin Salman had previously pledged to invest $600 billion in the U.S.; however, with changing circumstances and expanding economic cooperation between the two countries, the Saudi Crown Prince has nearly doubled that amount. No specific timeline has been announced for the realization of this investment.
During his visit, Saudi Arabia and the United States signed trade and technology agreements worth $270 billion.
This new wave of cooperation comes as Mohammed bin Salman visits the U.S. for the first time in seven years. His last visit to Washington was in 2018, a year when relations with the U.S. were strained due to the murder of Jamal Khashoggi, a Saudi critic. Although bin Salman denied giving direct orders for the killing, he acknowledged that, as the country’s leader, ultimate responsibility rested on him.