UAE to increase US energy investments to $440bn

WORLD, May 18 (YPA) – The UAE plans to increase the value of its investments in the US energy sector to $440 billion by 2035, from the current $70 billion. This is part of the UAE’s $1.4 trillion investment plan into the country.

The plan was announced during a presentation by Dr Sultan Al Jaber, managing director and group chief executive of Adnoc and executive director of investment company XRG, on Friday during US President Donald Trump’s meeting with top business leaders in the Emirates.

Al Jaber told Trump that the UAE would raise the total value of its institutional investments in the US energy sector to $440 billion by 2035, up from the current $70 billion, adding that American energy companies would also invest in the UAE.

The UAE had already committed in March—during a meeting between Emirati officials and Trump—to a 10-year investment framework in the United States worth $1.4 trillion, aimed at strengthening bilateral relations.

In a statement, the White House said the framework “will significantly increase UAE investment in the US economy,” including in infrastructure, artificial intelligence, semiconductors, energy, and manufacturing.

“We’re making great progress for the $1.4 trillion that UAE has announced it intends to spend in the United States,” Trump said .

@E.Y.M