UAE pledges $1.4 trillion in investments in US economy over 10 years: White House

The UAE has pledged a 10-year, $1.4 trillion investment framework in the US 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.

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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 US in 35 years, the White House said, adding the plant "would nearly double US domestic aluminum production".

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The White House said on Friday the UAE agreement resulted from a meeting that Trump held on Tuesday with Deputy Ruler of Abu Dhabi and 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.

Among the tie-ups highlighted on Friday was a partnership between UAE sovereign wealth fund ADQ, which is chaired by Sheikh Tahnoon, and US private equity firm Energy Capital Partners, for a $25 billion US-focused initiative to invest in energy infrastructure and data centres. That had been previously announced two days ago.

A commitment by XRG, the international investment arm of UAE state oil company ADNOC launched in November, to support US natural gas production and exports with an investment in the NextDecade liquefied natural gas export facility in Texas, had previously been made public last year by ADNOC, under Biden.

In comments on the news, UAE billionaire Khalaf Al Habtoor said on X: "While the world is preoccupied with conflicts and divisions, the UAE is investing, building, and planning for its future and the future of the world. It's enough to look at the latest historic step: the UAE's commitment to invest $1.4 trillion in the US economy over the next ten years. This is not just a number, but a testament to its confidence, depth, and global influence.

(With inputs from Reuters)