Riyadh: US President Donald Trump has visited Saudi Arabia. He held a meeting with Prince Mohammed and signed a $ 142 billion defense agreement, including an investment commitment of $ 600 billion. The deal is the largest defense deal between the two countries ever. Trump lightly said that this Saudi investment could reach a trillion dollars.
The agreements signed between the US and Saudi Arabia were also announced to establish a region-specific investment fund. The deal includes $ 5 billion energy investment funds, $ 5 billion New Aerospace and Defense Technology Fund, and 4 billion dollar Enfield Sports Global Sports Fund. Parallel, negotiations are underway to buy an American F-35 jet with Saudi Arabia.
A meeting of the US-Saudi Investment Forum was also held during Trump’s visit. These included Blackrock CEO Larry Fink, Blackstone CEO A Schwartzman, Open AI CEO Sam Altman, Elon Musk and Treasury Secretary Scott Besant from the US to seek investment opportunities. On this occasion, Trump also remembered the 2017 trip. Out of a total of $ 600 billion, $ 300 billion deals were signed during the forum meeting. Trump will visit Qatar on Wednesday and the United Arab Emirates on Thursday. Trump is also expected to get huge investment from these countries.
Senior Fellow Elizabeth Dent of the Washington Institute for Near East Policy Think Tank said that Trump’s Saudi visit is likely to lead to civil nuclear agreement between the two countries. Saudi Arabia also wants to diversify its economy under its vision 2030. So he is eager to promote investment in new areas there. As a part of it, he is making a future -oriented city like Neom, which is a Belgian city. There will be a system of living of 3 million people. This city will be developed in such a way that every person living here will be able to reach their workplace within 15 to 20 minutes. Saudi Arabia reduced its dependence on oil to 62 percent last year.
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