SoftBank, Grab show interest to invest in Indonesia’s new capital city

SoftBank Group Chairman and CEO Masayoshi Son and Grab CEO and Co-founder Anthony Tan met Indonesia’s President Joko Widodo about a potential investment in the country’s new capital city East Kalimantan, according to a Psc Tech report.

East Kalimantan has a new concept revolving around smart cities, green initiatives and Artificial Intelligence development.

According to a Grab spokesperson, the meeting discussed potential areas of collaboration, including developing smart cities, with green initiatives across Indonesia.

On a previous trip in August last year, Son had met the President in Jakarta and declared Softbank would invest US$5 billion in various projects, including electric vehicle development.

Earlier this week, Luhut Binsar Pandjaitan, the Co-ordinating Minister for Maritime Affairs and investment, suggested that SoftBank would invest around US$25 billion in the new capital city for the next five years.