The value of contracts signed between US and Saudi Arabian companies this year reached approximately USD 575 billion after new deals were announced this week, Saudi Investment Minister Khalid Al-Falih said.
Saudi Crown Prince Mohammed bin Salman paid a two-day official visit to the United States, where he participated in an investment forum attended by business representatives and companies from both countries.
“242 new agreements were announced between Saudi and American companies worth approximately USD 267 billion, bringing the total value of agreements between Riyadh and Washington to approximately USD 575 billion, including the USD 307 billion worth of agreements signed in Riyadh in May,” Al-Falih told the Al Ekhbariya broadcaster on Wednesday.
According to the minister, the strategic partnership agreement between the two countries, which was signed during US President Donald Trump’s visit to Riyadh, opens up opportunities for the Kingdom to participate in and gain experience in advanced US technology fields not available to all countries.
Al-Falih believes these new investment opportunities will have a positive impact on the Saudi economy in various areas and improve the lives of its citizens.
