NEW YORK/WASHINGTON, Dec. 16 (Xinhua) -- Donald Trump and SoftBank Group CEO Masayoshi Son jointly announced on Monday that SoftBank plans to invest at least 100 billion U.S. dollars in U.S. projects over the next four years, as the president-elect seeks to project enthusiasm over his return to power.
The Japanese internet and telecommunications company estimates that its U.S.-based investments will create 100,000 jobs focused on artificial intelligence and emerging technologies and plans to complete the work before Trump leaves office in 2029.
"Today I'm thrilled to announce that SoftBank will be investing 100 billion dollars in America, creating 100,000 American jobs at a minimum," Trump said during a press conference at his Mar-a-Lago residence in the state of Florida. He said he and Son just concluded "a very productive meeting" ahead of the press conference.
"He's doing this because he feels very optimistic about our country since the election," Trump, who on Jan. 20 will return to the White House as president, said of Son, who appeared side-by-side with him before members of the press.
"This historic investment is a monumental demonstration confidence in America's future, and it will help ensure that artificial intelligence, emerging technologies, and other industries of tomorrow are being created and grown right here in the USA," Trump said before handing the lectern over to Son.
Son, for his part, said his "confidence level to the economy of the United States has tremendously increased" with Trump's victory in the election, adding that Trump even asked him to double the announced amount of investment to 200 billion dollars.
"Would you make it 200 billion dollars?" Trump asked Son on the spot as they were heard cross-talking. Son responded by a big laughter, followed by Trump saying Son "can actually afford to do that."
"Trump has in the past announced deals with much fanfare, but they have sometimes failed to deliver on promised investments," said The Associated Press, adding that "Monday's announcement concerning the SoftBank technology group nonetheless is a win for Trump, who has used the weeks since the election to try to promote his policies, negotiate with foreign leaders and try to strike deals."
Monday's announcement comes days after Trump vowed to expedite federal permits for energy projects and other construction worth more than 1 billion dollars, it noted.
SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds. The company's investment portfolio includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia. Earlier this year, it joined a partnership with Saudi Arabia to build a robot factory in Riyadh. ■