Saudi Arabia has pledged to boost investments in America to nearly US$1 trillion, but according to analysts Riyadh could struggle to meet that target.
Rather, they said the pledge – announced when Crown Prince Mohammed bin Salman visited Washington last month – was more about the “political display” than a binding commitment.
It was an increase to the US$600 billion that was promised in May, when US President Donald Trump visited Riyadh.
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The latest pledge comes as the rivalry intensifies between the US and China, including a battle for influence in the oil-rich kingdom of Saudi Arabia.
By comparison, China and Saudi Arabia signed commercial deals worth about US$30 billion when Chinese President Xi Jinping visited Riyadh in 2022.
New business deals signed between Riyadh and Washington in November cover US infrastructure, technology and industry and include a civil nuclear cooperation agreement and a memorandum of understanding on artificial intelligence.