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During a high-profile visit by former U.S. President Donald Trump, Saudi Arabia reiterated its commitment to investing heavily in the United States over the coming years. Speaking at an investors' forum in Riyadh, Investment Minister Khalid al-Falih stated, as reported by Arab News, “We are here to implement the vision of Crown Prince Mohammed bin Salman.”
The forum focused on advancing the Crown Prince's ambitious pledge to channel $600 billion into the U.S. economy over a four-year period. However, questions remain about the feasibility of this investment, particularly given current oil prices, which are well below the $90–$95 per barrel range Saudi Arabia reportedly needs to maintain a balanced budget.
Economists are forecasting a potential budget shortfall of $75 billion this fiscal year. Additionally, funding uncertainties loom over several costly national initiatives, including the futuristic Neom megacity—estimated to cost up to $1.5 trillion—as well as the 2030 World Expo and the 2034 FIFA World Cup, both of which Saudi Arabia is set to host.
During his meeting with the crown prince, Trump praised the Saudi investment plans, saying they would generate significant employment in the United States. Shortly after his return to office in January, Trump remarked, “I’ll be asking the crown prince, who’s a fantastic guy, to round it up to about a trillion.”
In his remarks in Riyadh, Trump lavished praise on Crown Prince Mohammed bin Salman, calling him “very wise, wise beyond his years,” and noted their personal rapport: “I really believe we like each other a lot.”
Trump is scheduled to address the investors' conference later in the day.
The one-day forum in Riyadh brings together more than 2,000 business leaders and officials from both nations. The lineup of speakers includes prominent U.S. and Saudi ministers, as well as notable industry figures such as tech entrepreneur Elon Musk and Amazon CEO Andy Jassy.
