President Donald Trump touted a new $600 billion investment from Saudi Arabia during a speech to world leaders in Davos.

Some more details on Saudi Arabia's transformative Neom gigaproject have been revealed, including its ambitious timeline and how people will actually go about living in its incredible futuristic city,

The president's remarks follow an announcement by Saudi Arabia's Crown Prince that the kingdom will invest $600 billion in the US.

Two buildings branded "Saudi House" and "Saudi At Davos" stand out on the chic main street of the Swiss Alpine village hosting the World Economic Forum, showcasing the kingdom's growing presence at major international events.

Saudi Arabia's foreign minister said on Tuesday he did not see Donald Trump's new administration contributing to the risk of a war between Israel and Iran, addressing an issue the region has feared since the start of Israel's war in Gaza.

While addressing the World Economic Forum in Davos one day later, Trump said that he will ask MBS, whom he called a “fantastic guy”, to round up the $600bn pledge to “around $1trn”. Trump asserted that the Saudis would do this “because we’ve been very good to them”.

Saudi Arabia's foreign minister said on Tuesday he did not see Donald Trump's new administration increasing the risk of an Israel-Iran conflict, addressing an issue the region has feared since the start of Israel's war in Gaza.

As Washington steels itself for a battle with China over critical minerals and Brussels struggles to beat back a flood of Chinese electric vehicles, Saudi Arabia has offered to help Beijing ride out its growing trade disputes.

President Trump held his first official call with a foreign leader since being sworn in for his second term with Saudi Crown Prince Mohammad Bin Salman, a controversial figure who Trump on

Trump has had a close relationship with the crown prince, Mohammed Bin Salman, even as his real estate company does major deals with oil-rich kingdom.

Saudi Economy Minister Faisal Alibrahim said on Friday that the kingdom's $600 billion expanded package with the United States includes investments as well as procurement from the public and private sectors.

Saudi Arabia "needs to punch at (its) weight" on the global stage given its growing institutional presence and the return of Donald Trump, the kingdom's finance minister told AFP in Davos.The wealthiest country in the Arab world has taken a larger place on the international scene since assuming the presidency of the G20 in 2020,