SoftBank to invest up to $40 billion in Indonesia’s new capital – Tony Blair joins as adviser

Japan’s conglomerate SoftBank is offering to invest $30 billion to $40 billion in the development of the planned new Indonesian capital in Borneo, according to Indonesian coordinating maritime affairs and investment minister Luhut Pandjaitan.

The billionaire founder and chief executive of SoftBank Group, Masayoshi Son, hinted at partnering with the Indonesian government to fund the project when he met President Joko Widodo last week in the capital Jakarta.

However, Pandjaitan said it was not yet clear what project the Japanese firm would invest in specifically.

“We have not yet decided how they would invest, it could be for education, a research center or hospital development,” Pandjaitan said. He added he will meet Son in Davos and Tokyo later this month to finalise the plan.

“Newest smart technology”

After meeting Widodo last week, Son told reporters that he was interested in supporting “a new smart city, the newest technology, a clean city and a lot of artificial intelligence.”

Investors from Asia, the Middle East, the US and China have shown interest in developing the city, Pandjaitan said.

Meanwhile, SoftBank’s Son and former British Prime Minister Tony Blair have been included in the steering committee to oversee the construction of the new capital city. The committee will be led by Abu Dhabi’s Crown Prince Sheikh Mohammed bin Zayed Al Nahyan.

Blair currently runs the Institute for Global Change, a non-profit organisation, which he launched in 2016. With regards to Abu Dhabi, a sovereign wealth fund will be established by Indonesia and the United Arab Emirates which would be utilised for infrastructure development for the project and elsewhere in the country.

Japan’s conglomerate SoftBank is offering to invest $30 billion to $40 billion in the development of the planned new Indonesian capital in Borneo, according to Indonesian coordinating maritime affairs and investment minister Luhut Pandjaitan. The billionaire founder and chief executive of SoftBank Group, Masayoshi Son, hinted at partnering with the Indonesian government to fund the project when he met President Joko Widodo last week in the capital Jakarta. However, Pandjaitan said it was not yet clear what project the Japanese firm would invest in specifically. “We have not yet decided how they would invest, it could be for education, a...

Japan’s conglomerate SoftBank is offering to invest $30 billion to $40 billion in the development of the planned new Indonesian capital in Borneo, according to Indonesian coordinating maritime affairs and investment minister Luhut Pandjaitan.

The billionaire founder and chief executive of SoftBank Group, Masayoshi Son, hinted at partnering with the Indonesian government to fund the project when he met President Joko Widodo last week in the capital Jakarta.

However, Pandjaitan said it was not yet clear what project the Japanese firm would invest in specifically.

“We have not yet decided how they would invest, it could be for education, a research center or hospital development,” Pandjaitan said. He added he will meet Son in Davos and Tokyo later this month to finalise the plan.

“Newest smart technology”

After meeting Widodo last week, Son told reporters that he was interested in supporting “a new smart city, the newest technology, a clean city and a lot of artificial intelligence.”

Investors from Asia, the Middle East, the US and China have shown interest in developing the city, Pandjaitan said.

Meanwhile, SoftBank’s Son and former British Prime Minister Tony Blair have been included in the steering committee to oversee the construction of the new capital city. The committee will be led by Abu Dhabi’s Crown Prince Sheikh Mohammed bin Zayed Al Nahyan.

Blair currently runs the Institute for Global Change, a non-profit organisation, which he launched in 2016. With regards to Abu Dhabi, a sovereign wealth fund will be established by Indonesia and the United Arab Emirates which would be utilised for infrastructure development for the project and elsewhere in the country.

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