UAE Commits To $1.4 Trillion US Investment

The United Arab Emirates has committed to a 10-year, $1.4 trillion investment framework in the United States after top UAE officials met President Donald Trump this week, the White House said on Friday.

The framework will “substantially increase the UAE’s existing investments in the US economy” in AI infrastructure, semiconductors, energy, and manufacturing, the White House said in a statement.

The only fully new deal appeared to be an investment by Emirates Global Aluminium in what would be the first new aluminum smelter in the United States in 35 years, the White House said, adding the plant “would nearly double US domestic aluminum production”.

“Developing a primary aluminium smelter in the US has been part of EGA’s ambitions for several years,” a spokesperson for the firm said in a statement.

The UAE, an oil producer and longtime security partner of the US, is looking to deepen investment ties with Washington and is emerging as a global leader in AI, one of the sectors it is betting on to diversify its economy away from energy.

Meanwhile, in September, UAE President Sheikh Mohamed bin Zayed Al Nahyan met former U.S. President Joe Biden, in the first visit of a UAE president to the White House, as the two leaders discussed deepening cooperation in areas such as AI, investments and space exploration.

Gulf sovereign wealth funds, including Abu Dhabi’s $330-billion Mubadala, are already big US investors, and Trump and his family have business ties to the region.

Oval Office Meeting

Trump in January asked Saudi Arabia to spend upwards of $1 trillion in the US economy, over four years, including purchases of military equipment, and said this month he likely would make his first trip abroad to the Gulf country to seal an investment agreement.

The deal, which could happen between this month or the next, would come at a time when Saudi Arabia, the Arab world’s biggest economy, has been taking a more prominent role in US foreign policy.

The Gulf country is set to host diplomatic talks around Ukraine involving the United States and Russia next week.

The White House said the UAE agreement resulted from a meeting that Trump held on Tuesday with national security adviser Sheikh Tahnoon bin Zayed Al Nahyan in the Oval Office and a dinner that Vice President JD Vance and several cabinet members held with the UAE delegation, which included the heads of major UAE sovereign wealth funds and corporations.

REUTERS/Christopher Ojilere