President-elect Donald Trump announced a significant foreign investment initiative on Wednesday, pledging $20 billion to build new data centers across the United States. The commitment comes from Emirati billionaire Hussain Sajwani, founder of DAMAC Properties, and marks a notable step in Trump's efforts to attract international investment to the country.
The ambitious plan includes the establishment of data centers in states such as Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana. Trump indicated that there is potential for Sajwani's company to increase its investment beyond the initial pledge. He stated, "They may go double, or even somewhat more than double, that amount of money."
Sajwani expressed enthusiasm about the announcement, attributing his decision to invest to Trump's election victory. "It's been amazing news for me and my family when [Trump] was elected in November. We've been waiting four years to increase our investment in [the] U.S. to very large amounts of money," Sajwani said.
The investment is part of Trump's broader strategy to encourage foreign entities to engage in business within the United States. To facilitate this, his administration plans to offer incentives such as expedited permits for investments exceeding $1 billion. This approach aims to create an inviting environment for global investors seeking opportunities in the U.S. market.
This latest investment announcement follows other high-profile commitments from foreign business leaders in response to Trump’s election. Notably, SoftBank CEO Masayoshi Son recently declared plans to invest $100 billion in the United States, which could potentially create up to 100,000 jobs over Trump's four-year term.
Sajwani's DAMAC Properties is a prominent property development company based in Dubai. His partnership with Trump is not new; the two have enjoyed a longstanding relationship in the real estate sector. Sajwani's engagement in this investment initiative further solidifies his role as a key associate of Trump.
The announcement was made at Mar-a-Lago, Trump's Florida home, highlighting the proximity of personal and professional relationships in this significant financial undertaking. As Trump prepares to take office on January 20, he continues to emphasize the importance of foreign investment in revitalizing the American economy.
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