03 Feb '17, 2am

Grab unveils plan to invest US$700 mil in Indonesia

Grab unveils plan to invest US$700 mil in Indonesia

Grab has announced that it will be investing US$700 million (RM3.1bil) in Indonesia over the next four years to support the republic’s aim to become the country with the largest digital economy in the region by 2020. Unveiling its Grab 4 Indonesia master plan earlier today, the Singapore-based ride-hailing platform said that the action will incorporate a series of programmes aimed at providing opportunities for the switch to a digital economy. These include the development of a Grab research and development centre in Jakarta and recruiting 150 engineers over the next two years. The centre will focus on developing innovations and solutions specifically intended for Indonesia, including new algorithms associated with traffic regulations in Jakarta. The plan will also provide the release of funds to develop social impact enterprises. Grab said it will invest up to US$100 mill...

Full article: http://paultan.org/2017/02/03/grab-to-invest-us700-millli...

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