Latest news with #SaudiUS
Zawya
14-05-2025
- Business
- Zawya
Saudi Crown Prince: 40% of PIF's global investments are directed to US
RIYADH — Crown Prince and Prime Minister Mohammed bin Salman said that 40 percent of the global investments of the Public Investment Fund are directed to the United States. In his speech at the Saudi-US Investment Forum in Riyadh on Tuesday, the Crown Prince announced that the agreements unveiled at the forum amounted to $300 billion. The Crown Prince said that the volume of partnership opportunities between the two countries amounts to $600 billion. He emphasized that Saudi Arabia and the United States have enjoyed deep economic ties for more than 90 years, spanning vital sectors such as energy, knowledge, and innovation. "Joint investments are one of the most important pillars of our economic relations," he said while highlighting that Saudi Arabia is the United States' largest economic partner in the region. According to the Crown Prince, there are approximately 1,300 American companies currently investing in the Kingdom. "Joint efforts between the two countries are not limited to economic cooperation, but extend to establishing security, stability, and peace in the region and the world," he said adding that the Saudi Vision 2030 has enabled an unprecedented economic transformation aimed at diversifying the economy and empowering the private sector. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
United News of India
13-05-2025
- Business
- United News of India
US, SA sign $142B defense sales agreement: WH
Washington, May 13 (UNI) US President Donald Trump and Saudi Crown Prince Mohammed bin Salman signed on Tuesday a strategic economic partnership document between the two countries, media reports said. The two leaders also inked a series of bilateral agreements covering various fields, including energy and defense, on the sidelines of a Saudi US summit in the presence of Trump and bin Salman at Al-Yamamah Palace in Riyadh, Anadolu news reported The two sides signed additional agreements in the fields of energy and defense, most notably a letter of intent between the Saudi and US defense ministries regarding the development and modernization of the Saudi Armed Forces through future defense capabilities, the Saudi Al Ekhbariya channel reported. They also signed a memorandum of cooperation in the field of mining and mineral resources and a memorandum of understanding for cooperation in the energy sector. Additionally, a letter of intent was signed to enhance joint cooperation and develop requirements related to ammunition, training, support services, maintenance, and modernization of systems and spare parts for land and air systems of the Ministry of National Guard. The White House said the US and Saudi Arabia have signed the "largest defense sales agreement in history" worth nearly $142 billion, providing Saudi Arabia with state-of-the-art warfighting equipment and services from over a dozen US defense firms.' Trump arrived in Riyadh early Tuesday, marking his first overseas trip since he took office in January. His itinerary also includes visits to Qatar and the United Arab Emirates (UAE). UNI GNK
