Saudi Arabia is becoming a significant global centre for attracting investments, according to officials from the Kingdom at an event in Riyadh.

The Saudi-US Investment Forum opened on May 13 and was attended by Saudi ministers, senior US officials, and major corporate leaders from both countries as part of US President Donald Trump's visit to Saudi Arabia.

Trump arrived in Riyadh, supported by US Foreign Minister Marco Rubio, and they were welcomed by Saudi Crown Prince Mohammed bin Salman (MbS) at King Khalid International Airport,.

At the event in Riyadh, Saudi Investment Minister Khalid bin Abdulaziz Al-Falih said in his opening speech that energy investments represent one of the most important areas of cooperation with the United States. He noted that investment opportunities in Saudi Arabia have multiplied several times, with the kingdom's macroeconomic stability being a key attraction for investors.

"The Saudi stock market is among the fastest-growing markets in the world," Al-Falih said, adding that the kingdom offers promising investment opportunities in various fields, including technology and artificial intelligence.

Saudi Finance Minister Mohammed Al-Jadaan described the volume of Saudi investments in the United States as "remarkable," reflecting the strength of economic relations between the two countries.

"We have witnessed a flow of American investments into Saudi Arabia since the launch of Vision 2030," he stated.

US Treasury Secretary Scott Bessent affirmed that his country looks forward to more mutual investments with Saudi Arabia and strengthening economic partnerships. He said developing the relationship with Saudi Arabia is a top priority for the US administration.

During the forum, BlackRock CEO Larry Fink noted that Saudi Arabia has transformed into an important global centre for attracting investments, describing the expansion of capital markets in the kingdom as "a historic turning point to become among the most prominent markets globally."

James DeLuca, CEO of Ceer, said his company is collaborating with ten companies in the US, saying the company is “propelling [US] job growth”, adding that his company has helped create an education programme with Kettering University in Flint, Michigan. He added that US-Saudi collaboration is key to economic growth going forward.

Marc Winterhoff, interim CEO of Lucid Motors, also operating out of the Kingdom, said that his company has cooperation with local education economies. he said that the company recently signed an agreement with KAUST university near Jeddah, working on autonomous driving with graduates.

Sabah Almutlaq, chairman of the Alfanar Group, said his company is building AI data centres in the Kingdom, saying this is a field where Saudi Arabia is “very fit for that”, saying that the low energy prices in Saudi Arabia encourage the growth of power-hungry data centres.

“Normally this industry is data hungry … one of the main things we are building in our supply chain is to cater for that,” he added that his company has already begun construction of HP computer servers by a 100% female workforce.

The forum will discuss a wide range of topics of mutual interest, including energy and sustainability, finance, technology and artificial intelligence, manufacturing, space and defence sectors, and mineral resources.