July 29, 2019 – Japan’s SoftBank Group Corp. plans to invest $2 billion in Indonesia over a period of five years through Grab, a Southeast Asian ride-hailing firm, the company’s founder and Chief Executive Officer Masayoshi Son said earlier today.
The investment plan was announced after he met with President Joko Widodo at the Merdeka Palace.
“Indonesia’s technology sector has huge potential. I am very happy to be investing $2 billion into the future of Indonesia through Grab,” Son said.
Grab said in a press statement that the investment will go toward creating a next-generation transportation network based around an electric vehicle ecosystem for cities and transforming how critical services, like healthcare, are delivered.
It also plans to launch affordable e-healthcare services in Indonesia and to build a second headquarters, which will house a research and development center and will be the dual headquarters for the GrabFood business.
Other than Grab, SoftBank will also increase its investment in Indonesian technology company PT Tokopedia.