President Donald Trump is set to deliver a speech at the Future Investment Initiative, a conference backed by Saudi Arabia's sovereign wealth fund, in Miami. The purpose of the speech is to attract foreign investments and boost trade in the United States. The summit is expected to focus on Trump's efforts to secure significant investments from other countries in the US.
During a recent phone call, Crown Prince Mohammed bin Salman of Saudi Arabia pledged to invest $600 billion in the US over the next four years, while Trump expressed his desire to attract $1 trillion in investments. This gesture has helped foster goodwill between the two nations at the beginning of Trump's second term.
The conference, taking place at the Faena Hotel in Miami Beach, provides a platform for Trump and leaders of major global companies to engage with Saudi Arabia's substantial wealth fund. Notable attendees include executives from TikTok, Oracle, Uber, Sony Pictures Entertainment, BlackRock, and Tishman Speyer.
Jared Kushner, Trump's son-in-law, who resides in Miami, will participate in a session alongside Steve Witkoff, Trump's Middle East envoy. Kushner's private equity firm, Affinity Partners, has received significant investments from Saudi Arabia's Public Investment Fund.
Trump has sought Saudi Arabia's assistance in mediating talks between the US and Russia to resolve the conflict in Ukraine. He is also looking to potentially meet with Russian President Vladimir Putin in Saudi Arabia by the end of the month.
While Trump's proposal to relocate Palestinians from Gaza and transform the area into a 'Riviera' was met with swift rejection from Riyadh and other Arab nations, overall, Trump has cultivated strong ties with Saudi Arabia and its influential leader.
