Saudi Arabia plans $600bn in new US investment, trade over four years

Saudi Arabia, officially the Kingdom of Saudi Arabia, is a country located in Western Asia, constituting the bulk of the Arabian Peninsula. It is the largest country in the Middle East by land area and the second-largest in the Arab world. Riyadh is its capital and biggest city.

   

Saudi Arabia is an absolute monarchy governed by the Al Saud royal family. It is known for its vast oil reserves, holding the second-largest proven reserves globally, making it a major player in the world's energy market. Islam is the state religion, and Mecca and Medina, Islam's two holiest cities, are located within its borders, making it a destination for millions of Muslim pilgrims annually.   

The country is undergoing significant social and economic reforms under Vision 2030, an ambitious plan aimed at diversifying the economy away from oil, developing public service sectors such as health, education, infrastructure, recreation, and tourism, and modernizing Saudi society. While traditionally conservative, Saudi Arabia has recently seen increased social freedoms, particularly for women.