Deals worth hundreds of billions of dollars to be signed at US-Saudi Investment Forum: Senior Saudi official

Saudi Investment Minister Khalid Al-Falih said that agreements worth hundreds of billions of dollars will be signed during the US–Saudi Investment Forum, which opened in Washington on Wednesday, local media said.

“Yesterday, at the White House, we witnessed the signing of a set of strategic G2G agreements across several verticals, including defense, AI, the supply chains of minerals and critical metals, amongst others,” Falih said during his speech at the forum.

He said Crown Prince Mohammed bin Salman’s visit to Washington demonstrated “the strength of the Saudi-US partnership and our shared ambition.”

Falih said that “an important step” was taken during Tuesday’s discussion regarding the “US-Saudi strategic framework on investment acceleration, a mechanism that supports timely investment approvals between our two countries.”

“Today, we will also witness, again, the launch of groundbreaking business agreements worth hundreds of billions of dollars, further underscoring the strength of our partnership and shared ambition,” he noted.

The investment minister emphasized that the US is the largest foreign investor in Saudi Arabia, “with one of every four dollars invested by international investors in the Kingdom of Saudi Arabia coming from America.”

The forum, held at the Kennedy Center in Washington, brought together a wide range of companies, many of which are expected to announce investments in Saudi Arabia, according to Saudi media.

Bin Salman and US President Donald Trump will attend the event.

On Tuesday, Trump announced the designation of Saudi Arabia as a “major non-NATO ally,” and the signing of a “historic strategic defense agreement.”

Major non-NATO allies are granted certain defense trade and security cooperation benefits, including being able to enter into joint research and development programs with the Pentagon and having privileged access to US weaponry, training and loans.