SoftBank eyes investment in Indonesia’s new smart capital city

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.