WASHINGTON — Saudi Minister of Investment Khalid Al-Falih said the US–Saudi Investment Forum in Washington will witness the launch of "groundbreaking business agreements worth hundreds of billions of dollars." He highlighted what he described as one of the strongest and most enduring economic partnerships in the world. Opening the forum on Wednesday, Al-Falih said Saudi Crown Prince Mohammed bin Salman and US President Donald Trump will address participants later today, underscoring the strategic weight of the event and the ambition driving both economies. "This is the fourth in a series that started back in 2017 when President Trump chose the Kingdom of Saudi Arabia for his first foreign visit as president," Al-Falih said. "The outcomes of this visit that we have started seeing yesterday demonstrate in no uncertain terms the strength of the Saudi–US partnership and our shared ambition." Al-Falih said the forum marks a milestone year for economic cooperation, building on Trump's second state visit to the Kingdom last May, which he said had ushered in major technology investment commitments. "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 ambition," he said. The minister said the program includes plenaries, workshops, panels and roundtables under the theme "Leadership for Growth," with both countries' leaders scheduled to deliver keynote addresses at noon. "Their participation demonstrates the importance our leaders place in this gathering and underscores our shared commitment to exploring opportunities, deepening collaboration and realizing the full potential of the private sector," he said. Reviewing the historical context, Al-Falih noted that Saudi–US ties have been among the world's most consequential for more than nine decades. He said the United States is the largest foreign investor in the Kingdom, with "one of every four dollars invested by international investors in Saudi Arabia coming from America," largely from companies participating in the forum. He added that the US is also the largest recipient of Saudi outbound investment. Al-Falih said Wednesday's visit to the White House saw the signing of several strategic government-to-government agreements covering defense, artificial intelligence, supply chains, minerals and other critical sectors. He also highlighted progress under the U.S.–Saudi Strategic Framework on Investment Acceleration, which supports faster investment approvals between the two countries. While energy has long anchored the bilateral economic relationship, Al-Falih said Saudi Arabia's investment landscape has expanded significantly under Vision 2030. Opportunities now span artificial intelligence, technology, finance, defense, aerospace, healthcare and education, sectors he said are shaping "both today's growth and tomorrow's transformative breakthroughs." Al-Falih cited the Kingdom's rapid economic transformation, saying GDP, domestic investment and foreign direct investment have all doubled since the launch of Vision 2030, with annual FDI flows quadrupling. "These gains reinforce a stable high-growth environment with competitive returns and unprecedented opportunities for global and American investments, which will be unveiled during the day," he said. He emphasized that the relationship between the two nations is ultimately built on people-to-people ties dating back to 1933, with hundreds of thousands of Saudis and Americans forging academic, professional and cultural connections that continue to drive innovation and joint ventures. "As we look ahead to the rest of the day, I encourage us all to seize this moment, explore new opportunities and partner among the participants to shape the next wave of transformative deals," Al-Falih said before inviting U.S. Secretary Howard Lutnick to take the stage.
