The US is setting up a fast-track process to ease greater investment from the Middle East ahead of President Donald Trump’s visit to the Gulf next week.
Trump is slated to visit Saudi Arabia, the UAE and Qatar from May 13-16.
The fast-track process includes launching a portal to collect information from foreign investors before filing for deal approvals from regulators, the US treasury department said in a statement.
The treasury’s move comes after Trump launched an America First investment policy, which seeks to attract funds from overseas.
“The US benefits from the strong and stable investments of our allies and partners,” said treasury secretary Scott Bessent.
The US administration has discussed the process with three Middle East nations, Bloomberg reported citing informed sources.
Fast-tracking will help eliminate major hurdles for the Middle Eastern sovereign wealth funds, such as the Committee on Foreign Investment in the United States scrutiny during the Biden administration over their perceived close ties to China, Bloomberg said.
This week Qatar Airways was reportedly preparing an order for about 100 wide-body aircraft from US manufacturer Boeing during Trump‘s visit to the Gulf.
The US president has called on Saudi Arabia to increase trade and investment in the US to $1 trillion after Crown Prince Mohammed bin Salman earlier pledged $600 billion over the president’s four-year term.
In March, the UAE announced plans to trade and finance $1.4 trillion in the US economy over the next decade, with investments in AI infrastructure, semiconductors, energy and manufacturing.
