Crown Prince: Saudi Arabia works with US on $600B partnership opportunities

Crown Prince Mohammed bin Salman stated that joint investments between Saudi Arabia and the US are one of the key pillars of both countries’ economic relationship.

In a speech at the Saudi-US Investment Forum in Riyadh, attended by President Donald Trump, he added that the economic ties between Saudi Arabia and the US have been reflected in the growth of trade exchange between the two countries.

The Crown Prince noted that the two countries share a deep economic relationship dating back to 92 years ago.

He said, "We are working on partnership opportunities worth $600 billion, including over $300 billion in agreements announced during the forum. In the coming months, we will move forward with the second phase to finalize the remaining agreements, aiming to raise the total to $1 trillion."

"This growing partnership represents an extension of the various cooperation in military, security, economic, and technological fields, which reinforces mutual benefits, supports job creation in the Kingdom, contributes to localizing industry, developing local content, and boosting GDP growth,” the Crown Prince added.

He also highlighted that the United States is a primary destination for the Saudi Public Investment Fund (PIF), as it accounts for 40% of the fund’s international investments, which reflects confidence in the U.S. economy’s capacity for innovation, particularly in promising sectors such as artificial intelligence and technology, contributing to knowledge transfer and the exchange of expertise.

Moreover, the Crown Prince stated that the number of US companies operating and investing in the Kingdom has reached 1,300 companies, representing about a quarter of total foreign investment in Saudi Arabia, which include 200 companies have opened their regional headquarters in the Kingdom.

"Vision 2030 has successfully achieved most of its goals and has triggered an unprecedented economic transformation aimed at diversifying the economy and empowering the private sector to become a primary driver of growth in the region’s largest economy,” said the Crown Prince.

Saudi Arabia’s non-oil exports rose to $82 billion in 2024. Moreover, 2.4 million Saudi men and women have been employed, and the unemployment rate fell to a historical level, with women’s participation in the labor market doubling.

The Crown Prince concluded his speech by saying: "We are confident that we are continuing to build together with you (the United States), based on the solid foundations of our close partnership. What we have signed today is part of a broader ambition to invest in cooperation opportunities and mutual benefits between us. Our joint work is not limited to economic cooperation, as it extends to working together for the establishment of security and peace in the region and the world. Once again, we welcome you to the Kingdom of Saudi Arabia."