Miami Mayor Francis Suarez and President Donald Trump are celebrating Saudi Arabia’s plan to open an investment office in Miami. The announcement came during the Future Investment Initiative conference in Miami Beach, sponsored by Saudi Arabia’s Public Investment Fund. Suarez praised the move, saying, “We are announcing the Ministry of Investment of Saudi Arabia is opening an Invest Saudi office here in Miami.”
Saudi Minister Khalid Al-Falih called it a “gateway” to South America and thanked Suarez for “believing in the kingdom.” Supporters, like tax analyst Danny Castro, highlight potential gains for Florida’s economy, from real estate to technology. But critics, including Joey Shea from Human Rights Watch, warn the investment effort is “image laundering,” masking Saudi Arabia’s human rights abuses. Saudi Arabia has one of the worst records in the world on LGBTQ rights. Trump, promoting his Miami-based business ventures, called Saudi Arabia “a special place with special leaders.”
The summit also saw tech leaders like Elon Musk and financier Jared Kushner, who has ties to the kingdom’s sovereign wealth fund. While the new office could boost Miami’s business landscape, human rights advocates caution against ignoring the kingdom’s oppressive policies. South Florida’s commitment from Saudi Arabia will be the kingdom’s first effort of its kind in America outside of Washington. Critics suggest Miami-Dade County growing pro-Trump positions and the president’s base in Palm Beach are why Saudi Arabia makes this announcement.
