Saudi-U.S. Economic Expansion: A $600 Billion Journey

Saudi Arabia's Economy Minister Faisal Alibrahim announced a $600 billion expansion in investments and procurement with the U.S. This collaboration, aimed at enhancing the strong bilateral relationship, might reach $1 trillion. The focus remains on long-term oil market stability amid fluctuating prices.

In a significant announcement, Saudi Arabia's Economy Minister Faisal Alibrahim revealed the kingdom's ambitious $600 billion package with the United States. This strategic expansion includes investments and procurement from both public and private sectors.

The announcement comes after U.S. President Donald Trump suggested that the investment figure should hit $1 trillion. While attending the World Economic Forum in Davos, Alibrahim emphasized that this initiative mirrors the robust relationship between the two nations. Despite Trump's proposition, Saudi Arabia maintains a commitment to invest upward of $600 billion in the U.S.

Alibrahim also addressed the oil market, underscoring the kingdom's focus on long-term stability to meet rising demand. Fluctuations in oil prices followed Trump's remarks, with Riyadh remaining cautious about immediate price changes. Additionally, the World Economic Forum will regularly convene in Saudi Arabia from 2026, highlighting the kingdom's growing global influence.

(With inputs from agencies.)