After BRICS discontinued , Saudi Arabia invests $600 billion in US.
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Saudi Arabia has been invited to join the BRICS in 2023, but the Kingdom has not yet decided whether to accept the invitation. It has put its decision to join the alliance on hold while it pursues a trade deal with the US. The Kingdom of Saudi Arabia is hesitant to join the BRICS because it needs the support of the US and other Western countries to fulfill its Vision 2030 mission. Ending its dependence on the US will only hinder its financial prospects and lead to economic stagnation.
So, after the BRICS ban, Saudi Arabia plans to invest $600 billion in the US over the next four years. Crown Prince Mohammed bin Salman told US President Donald Trump that the kingdom wanted to invest the money and expand its trade. MBS said the investments would create "unprecedented economic prosperity" for Saudi Arabia and the United States.
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However, the Kingdom did not specify in which sector the $600 billion would be invested. It did not specify whether it would be a private or public sector investment and gave little or no information about how the money would be used. US investors are wary of the BRICS, as the alliance wants Saudi Arabia to join the group. Saudi Arabia's Crown Prince has revealed that investment could increase if new opportunities arise. This shows that the Kingdom is open to more investment and wants to diversify funds across sectors. Investment "could increase further if new opportunities emerge," MBS said. Instead of strengthening its close ties with the BRICS, Saudi Arabia is turning to the United States.
Trump seems pleased with the deal, seeing it as a trade victory for the United States. "I did it with Saudi Arabia last time because they agreed to buy $450 billion of our products. I said I will do it, but you have to buy American products, and they agreed to do it," he said, referring to his visit to the Gulf kingdom in 2017. Considering all these factors, Saudi Arabia cannot accept the BRICS invitation as it builds close relations with the United States.