RIYADH — Minister of Investment Khalid Al-Falih reaffirmed Saudi Arabia's efforts to deepen its investment relations with the United States over the next four years, by pumping $600 billion. "This initiative comes within the framework of achieving the aspirations of Crown Prince and Prime Minister Mohammed bin Salman," the minister said. Al-Falih made the remarks in his opening speech at the Saudi-US Investment Forum at the King Abdulaziz International Conference Center in Riyadh on Tuesday. High-ranking officials from both countries are taking part in the forum being held on the sidelines of the landmark visit of US President Donald Trump to Saudi Arabia. Al-Falih commended the size and caliber of the American and Saudi investment delegations, reflecting both countries' commitment to advancing cooperation and continuing over 90 years of strong bilateral relations built on trust, partnership, and a shared focus on achieving mutual economic interests. "From the very outset, these relations have been driven by unprecedented demand for energy, coupled with Saudi ambition and American expertise," he said. The minister noted that these relations have resulted in the establishment and growth of Saudi Aramco, one of the largest energy companies in the world. "While the energy sector remains a core focus of our relations, investment and business opportunities in the Kingdom have expanded significantly under Vision 2030," he said while emphasizing that the Kingdom has promising investment opportunities in diverse sectors, including energy, mining, industry, construction, development, renewable energy, biotechnology, tourism, hospitality, banking and financial services, artificial intelligence, data storage, and cloud computing. Al-Falih pointed out that these opportunities have been enabled by Saudi Aramco's policies and Saudi efforts to achieve market stability. "This has led to lower inflation rates and market volatility. The Kingdom has the lowest rate of economic volatility and fluctuations, in addition to its massive cash reserves, which have contributed to improving the Kingdom's credit rating despite global fluctuations," he pointed out. Al-Falih said that the Saudi stock market is among the ten largest and fastest-growing markets in the world, and that the venture capital sector is witnessing remarkable development. He emphasized that trust is the cornerstone of Saudi Arabia's relations, the roots of which go back to a historic meeting between the founder of modern Saudi Arabia King Abdul Aziz, and US President Franklin Roosevelt in 1945. The minister said that the combined efforts of Saudi Arabia and US have resulted in great achievements. "This trust is the foundation upon which we build today to shape a future filled with opportunities, through the exchange of ideas and visions and joint work towards a better future," he added. Al-Falih also presented the 2024 annual report on Saudi Vision 2030, highlighting the significant progress made in achieving its goals of diversifying and sustaining the Kingdom's economic resources, as well as opening new investment opportunities in key sectors. He stated that the rapid global transformations, economic fluctuations, and technological advancements will reshape the international economy, presenting significant opportunities to strengthen and expand the strategic partnership between the two countries. He emphasized the importance of building strong, sustainable partnerships to achieve mutual interests, leveraging the strengths of both Saudi and American economies, particularly through their companies. Al-Falih affirmed that the relationship between the two countries is one of the most important geopolitical connections, driven by economic cooperation and business partnerships, which serves as a catalyst for global peace and prosperity. He underscored that business opportunities in the Kingdom have grown significantly thanks to Saudi Vision 2030, which has created numerous opportunities and yielded strong investment returns.
