Saudi Arabia and the United States signed agreements worth more than $300 billion, Crown Prince Mohammed bin Salman announced at the Saudi-US Investment Forum held in Riyadh on Tuesday. The deals, which span sectors including energy, defense, mining, and space, mark a major boost to the bilateral economic relationship and are seen as a cornerstone of the Kingdom’s Vision 2030 reform agenda.
Crown Prince Mohammed told forum participants that Saudi Arabia is looking to unlock $600 billion in investment opportunities, with the potential to increase that figure to $1 trillion. He emphasized that joint investments are one of the most vital pillars of the strategic partnership with the United States, which he said remains one of the largest contributors to the Kingdom’s transformation goals.
“The US is a major destination for the Public Investment Fund (PIF), accounting for approximately 40 percent of the fund’s global investments,” the crown prince said, stressing that cooperation extended beyond economic spheres to regional and global peace efforts.
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US President Donald Trump, on his first overseas visit since returning to office, praised the “unprecedented transformation” underway in Saudi Arabia and credited the leadership of King Salman and Crown Prince Mohammed bin Salman. He described the crown prince as “a very great man like no other” and “the greatest representative of his people.”
Trump applauded Riyadh’s rise as a global business hub, noting that non-oil revenues had surpassed oil sector income — a key milestone in the Kingdom’s economic diversification journey. He said Saudi Arabia had skillfully maintained its cultural heritage while embracing modernity through Vision 2030.
During his remarks, Trump also criticized the Biden administration for removing the Houthis from the US terrorist list, calling it “a serious mistake.” He condemned Hezbollah for destabilizing Lebanon and asserted that Iran had wreaked havoc across Syria, Iraq, Yemen, and Gaza.
“Some in the Gulf have turned deserts into farms, while Iran has turned its farms into deserts,” Trump remarked sharply, warning that if Iran spurned diplomacy, the US would have “no choice but to apply maximum pressure.”
He affirmed support for Lebanon and acknowledged Saudi Arabia’s role in facilitating Russia-Ukraine peace talks, expressing hope that regional cooperation would lead to stability and development.
The forum was also the setting for the signing of a strategic economic partnership agreement, which included:
- Defense modernization agreements for the Saudi armed forces
- An MoU between NASA and the Saudi Space Agency
- Deals on mineral resources and justice cooperation
- Joint efforts on combating infectious diseases
Upon Trump’s arrival earlier Tuesday, he was welcomed warmly by Crown Prince Mohammed bin Salman at King Khalid International Airport. As Air Force One descended into the capital, it was escorted by Royal Saudi Air Force F-15s, adding a ceremonial flourish to the visit.
The two leaders proceeded to a grand hall in the airport, where they were served traditional Arabic coffee by attendants wearing ceremonial gun-belts. A formal lunch followed at the Royal Court, with a state dinner scheduled for later in the evening.
Trump’s ongoing Middle East tour will also take him to Qatar and the United Arab Emirates, and may include a stop in Turkiye for potential discussions related to the Ukraine war. The trip combines high-level diplomacy surrounding the Gaza conflict with major economic engagements.
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