Latest news with #SaudiUSPartnership
Arab News
5 days ago
- Politics
- Arab News
Saudi defense minister discusses efforts to promote regional security with US counterpart
RIYADH: Saudi Defense Minister Prince Khalid bin Salman discussed efforts to promote regional and international security and stability with US Secretary of Defense Pete Hegseth on Wednesday. The two officials also reviewed the Saudi-US partnership and explored ways to further strengthen defense cooperation during a phone call, Prince Khalid said in a post on X.
Asharq Al-Awsat
15-05-2025
- Business
- Asharq Al-Awsat
Energy Fund to Boost Saudi-US Strategic Investments
A $5 billion energy investment fund was unveiled in Riyadh on Tuesday during the Saudi-US Investment Forum, held in conjunction with US President Donald Trump's visit to the kingdom, in a move aimed at boosting bilateral partnerships and stabilizing the global energy sector. The White House announced in a statement that the fund was among several key initiatives agreed during Trump's visit, calling it a 'historic step' toward deepening economic cooperation between the United States and Saudi Arabia. Scott Pruitt, who served as the Administrator of the Environmental Protection Agency (EPA), told Asharq Al-Awsat the fund will target strategic investments in the energy sector, focusing primarily on US-based companies. These include firms supporting existing energy hubs and those developing transitional technologies to advance the global energy future and promote efficient manufacturing. Pruitt said the fund aligns with Saudi Arabia's Vision 2030, aiming to invest in companies that can benefit from the kingdom's business environment while also supporting energy-related infrastructure, services, and manufacturing in the US. The fund is expected to begin deploying its $5 billion capital in 2025, he added. Strategic Investment in Energy Neil Bush, chairman of Skytower Investments, a green technology investment firm, said the energy fund brings together experienced partners in fund management and energy investment. He noted that it will play a critical role in directing strategic capital toward the future of global energy and efficient production. The fund naturally targets the development of US infrastructure, bolstering America's leadership in global energy markets and delivering strong returns to investors, Bush said. Launched during President Trump's visit, this initiative sends a strong signal of renewed economic momentum between Washington and Riyadh. Saudi businessman Abdullah Al-Meleihi, CEO of Saudi Excellence Co., described the fund as more than a capital mechanism, calling it a 'bridge of trust and ambition' between the two countries. He emphasized Trump's role in creating a climate conducive to innovation and opportunity. Al-Meleihi said the fund is expected to be fully established and financed in 2025, characterizing it as a model of public-private cooperation and strategic alignment between the US and Saudi Arabia. He noted that it enjoys robust support from the private sector in both countries as well as international investors, and will focus on energy, technology, artificial intelligence in energy, and advanced industries, while also facilitating knowledge transfer to the kingdom and capital investment in the US.
Argaam
13-05-2025
- Business
- Argaam
Al-Falih says rapid global changes support stronger Saudi-US ties
Saudi Arabia's Minister of Investment, Khalid Al-Falih, said that rapid global transformations, economic fluctuations, and technological advancements currently taking place are reshaping the international economic landscape. Speaking at the opening of the Saudi-US Investment Forum, Al-Falih added that these developments will present numerous and significant opportunities to enhance and broaden the strategic partnership between Saudi Arabia and the US. He emphasized the importance of building strong and sustainable partnerships to achieve mutual interests, leveraging the strengths of both the Saudi and US economies, particularly the competitive advantages of Saudi and American companies. The minister revealed that over the next four years, Saudi Arabia aims to deepen its investment relationship with the US by an estimated $600 billion, noting that the Kingdom is looking to expand its investments with the US across multiple sectors. He pointed out that investment opportunities and business prospects in Saudi Arabia have expanded and multiplied significantly, highlighting the energy sector as one of the most prominent areas of cooperation with the US. Al-Falih also noted that the 2024 annual report on Saudi Vision 2030 confirms that the Kingdom has made substantial progress toward achieving its objectives of diversifying the economy and unlocking new opportunities across various sectors.
Argaam
13-05-2025
- Business
- Argaam
Saudi, US Investment Forum 2025 kicks off today in Riyadh
The Saudi–US Investment Forum 2025 kicked off today in Riyadh, bringing together business leaders to explore new opportunities that further strengthen the partnership between the two nations. The forum is being held on the occasion of US President Donald Trump's visit to Saudi Arabia and highlights the strength of the nearly century-long bilateral relationship, as well as the shared commitment to unlocking new horizons for investment. In his opening remarks at the forum, Minister of Investment, Khalid Al-Falih, stated that the event comes at a historic moment, marked by the renewal of a mutual commitment to strengthening the strategic partnership between Saudi Arabia and the United States, a partnership that benefits both countries and the world at large. Al-Falih indicated that the exceptional delegation of US business leaders, alongside their Saudi counterparts, reflects the determination of both nations, and their companies in particular, to move forward toward new areas of collaboration. This comes as a continuation of more than 90 years of close ties between the two countries, characterized by trust and a spirit of partnership built on mutual respect and a shared focus on advancing common economic interests and corporate gains.
