Founder of Japan' Softbank Corp. Masayoshi Son, eyes more investment in Indonesia - Photo by TheInsiderStories

JAKARTA (TheInsiderStories) – Founder of Japan’ Softbank Corp. Masayoshi Son, eyes more investment in Indonesia. After declared to invest US$2 billion on July 2019 in the country, now the tycoon looking another investment in the new capital city projects.

He expressed the commitment during a meeting with President Joko Widodo at the Merdeka Palace, Jakarta, today (01/10). As known, the government has begun offered a new capital project worth of US$35 billion to global and domestic investors.

“The new project that you are preparing, I think there is an exciting opportunity that we can discuss potential ideas,” he told president at the meeting.

Son was reluctant to disclose the investment value prepared for the project. But Son assured the investment was beyond the value he had delivered at the first meeting with Widodo with worth $2 billion for startups and electric car projects.

“We don’t discuss the specific numbers yet, but new smart cities, the latest technology, clean cities and a lot of AI. That’s what I’m interested in supporting,” he asserted.

Earlier, coordinating minister for maritime and investment affairs, Luhut Binsar Panjaitan stated, Softbank had an interest in investing around $100 billion in the new capital project. Beside Son, JBIC and the United Arab Emirates (UAE) also expressed their interest to invest in the project.

The new capital project is targeted to present opportunities for companies involved in soft and hard infrastructure, such as urban development, utilities, toll manufacturing, environmental consulting, and companies in designing smart cities.

The government has announced it will start construction of a new capital in 2021, with a view to having the administrative center fully operational by 2024. This move will cost around Rp.466 trillion, with the government intending to cover 19 percent of the cost.

Invites Japan Invest in Natuna

President Joko Widodo welcomed Japan’ foreign minister, Motegi Toshimitsu and his delegation – Photo by President Office

Before met Son, in the meeting with Japan’ foreign minister, Motegi Toshimitsu and his delegation, President Widodo offered the country to invest in Indonesia’ outer islands, especially in the Natuna Islands.

“In addition to investment in the outer islands, investment in infrastructure will also continue,” said minister of foreign affairs, Retno Marsudi, who accompanied the president in the meeting.

She revealed, the two countries had cooperated in the development of the marine and fisheries sector, such as the construction of the Center for Marine and Fisheries Integrated and tourism development.

Furthermore, the president also hopes that the draft of the regional comprehensive economic partnership agreement, which is still being discussed, can be immediately approved and signed by 10 ASEAN member countries and five partner countries, including Japan.

Written by Staff Editor, Email: theinsiderstories@gmail.com