Saudi signs deal worth over $300b with US, crown prince confirms

Arab News :

Saudi Arabia has signed deals with the US worth more than $300 billion, Crown Prince Mohammed bin Salman said at the Saudi-US Investment Forum in Riyadh on Tuesday.
During an address at the event, Prince Mohammed said the Kingdom was looking at $600 billion of investment opportunities, adding that he hoped this would raise to $1 trillion.
He noted that the US was among the largest partners of the Saudi Vision 2030 reform agenda, adding that joint investments were one of the most important pillars of the economic relationship between the two countries.
“The US is a major destination for the Public Investment Fund, accounting for approximately 40 percent of the fund’s global investments,” he said.
He also said that cooperation with Washington was not limited to economic cooperation, but also extended to “establishing peace in the region and the world.”
Also speaking at the event, US President Donald Trump praised the transformation underway in Saudi Arabia, as he attributed it to the leadership of King Salman and the crown prince.
Trump described the crown prince as a “very great man like no other” and “the greatest representative of his people,” and highlighted the role of Saudis in driving development in their own country and the region as a whole.
Trump pointed to Riyadh’s rise as a global business hub and noted that the Kingdom’s non-oil sector revenues had now surpassed those of the oil sector.
He said Saudi Arabia deserved praise for preserving its culture and tradition while also embracing its forward-looking, modern Vision 2030 reform agenda.