Saudi Arabia has invested over $770 billion in the US and plans to increase this figure by $600 billion over the next four years, according to Saudi officials.
“We enjoy a very strong relationship with the US over the years,” Al-Jadaan said in an interview with Bloomberg Television. “We have a relationship that spans over eight decades. Very strategic, based on economy and trade, and will continue.”
The $600 billion pledge comes as part of Saudi Arabia’s broader strategy under its Vision 2030 plan to diversify its economy and strengthen international economic ties. The investment initiative aligns with Crown Prince Mohammed bin Salman’s aim to accelerate economic partnerships with the US.
The Kingdom’s economic overhaul has also led to substantial domestic investments, with the government and the Public Investment Fund (PIF) raising significant capital through debt offerings. Earlier this month, Saudi Arabia tapped international bond markets for $12 billion, and the PIF raised $4 billion through its own bond sale.
Saudi Arabia’s focus on economic diversification coincides with fiscal challenges due to oil price volatility. The International Monetary Fund (IMF) recently downgraded Saudi Arabia’s growth forecast to 3.3% for 2025, citing OPEC+ oil production cuts. Despite this, growth rates of close to 4% in the coming years are expected to outpace most other Group of 20 economies.
In response to questions about foreign direct investment, Al-Jadaan emphasised the role of local investors, stating, “If you are not able to convince local investors to invest, you will not be able to convince foreign investors.”
