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Softbank Finally Invest In Indonesia

SoftBank Group Corp. chairman and CEO Masayoshi Son has indicated interest in investing in Indonesia’s new capital city in East Kalimantan. Son, accompanied by Grab CEO and co-founder Anthony Tan, today met Indonesian president Joko Widodo.

Following the meeting with the president, Son said that he had not discussed the exact amount of investment, but he mentioned that he is interested to invest in the new capital city, which has a new concept revolving around smart cities, green initiatives, and AI development.

In August 2019, Son was in Jakarta to meet the president. At the time, SoftBank declared it would inject US$5 billion in investments into Indonesia, including for electric vehicle development in Southeast Asia’s largest economy.

This is not the first time the Japanese investment group is investing in smart cities. In 2018, SoftBank invested in Dublin City Council’s Smart City program and its Smart Docklands District testbed related to smart city solutions. Last year, SoftBank also announced a partnership with the Lippo Group to develop AI and internet of things in Lippo properties.


(source: Tech in Asia)