SoftBank wants to Invest in Indonesia

SoftBank wants to Invest in Indonesia

Masayoshi Son is SoftBank Group Corp found and CEO. On Friday, Son indicated that he would like to develop his investments of tech conglomerates in Indonesia.


After a conference with President Joko Widodo, the information has been disclosing remarks.


Son stated in comments reported by local media that they didn’t discuss the specific numbers yet. Nevertheless, the newest technology, clean city, new smart city with a lot of artificial intelligence, is the subject of his interest in support.


Moreover, the company spokesperson verified the statement.


Indonesian coordinating affairs minister for maritime affairs and investment Luhut Pandjaitan talked with the reporters. He told them that the tech billionaire of Japan was interested in investing in the country’s new capital city.


The investment will most probably replace the megacity of Jakarta.


However, Son has not summarized the specific plans of the investment in the new capital. It will be producing on the island of Borneo, besides.


In the world’s fourth most populated country, SoftBank’s investment, consisting of a $2 billion commitment.


The revelation was via portfolio company Grab in July. The company is the top ride-hailing service provide in Southeast Asia.


The funds are to encourage the use of electric vehicles in Indonesia, meanwhile. It is the government’s primary concern. Thus, it attempts to enhance air quality and congestion in traffic-clogged Jakarta.


This week hundreds of workers were affected by start-ups financed by SoftBank declared layoffs. To turn quick profits and cut expenses, the Japanese conglomerate keeps forced its investments.


Zume is a San Francisco-area firm. It aims to produce and deliver pizzas using robots. Now it is cutting 360 employees. The count is above half of its workforce and ditching that original business.


The firm has been appraising at more than $2bn. It was after in 2018, SoftBank led a $375m funding round.

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