You are viewing 1 of 2 articles without an email address.


All our articles are free to read, but complete your details for free access to full site!

Already a Member?
Login Join us now

SoftBank eyes investment in Indonesia’s new smart capital city

Indonesia’s government plans to move the capital city from Jakarta due to overcrowding with over 10 million people, pollution and the fact that it is sinking.

LinkedInTwitterFacebook

Masayoshi Son, founder of Japanese telecom and investment conglomerate SoftBank, has signalled his company’s interest in backing a new technology-infused capital city for Indonesia.

 

Indonesia’s government plans to move the capital city from Jakarta due to overcrowding with over 10 million people, pollution and the fact that it is sinking. The new capital city will be located in a now-forested area of Borneo and the shift is due to be complete by the end of 2024.

 

AI city

 

“We won’t discuss the specific number yet, but a new smart city, the newest technology, a clean city and a lot of AI [artificial intelligence] – that’s what I’m interested in supporting," Son is quoted by the Jakarta Post as saying, following a meeting between Indonesia’s president Joko Widodo, Son and SoftBank-backed ride-hailing app Grab CEO Anthony Tan at the State Palace in Jakarta.

 

"A new smart city, the newest technology, a clean city and a lot of AI [artificial intelligence] – that’s what I’m interested in supporting."

 

Widodo has said he wants the new capital to be smart and green, although environmentalists have raised concerns about the deforestation and related issues stemming from the $33 billion relocation.

 

Other investors have also expressed interest in the Borneo city, particularly from Hong Kong and China.

 

SoftBank in smart cities

 

In July, Grab announced it would invest $2 billion into Indonesia over five years using capital from SoftBank.

 

Last month, SoftBank partnered with Indonesia property developer Lippo Karawaci for the development and deployment of AI and IoT-powered solutions in Lippo Village in Karawaci, near Jakarta.

 

In 2018, SoftBank and Dublin City Council announced what they called a “landmark partnership” to help shape smart city deployments in Dublin.

 

You might also like:

LinkedInTwitterFacebook