Grab investing US$700 mil in Indonesia to help grow digital economy

SINGAPORE (Feb 2): Ride hailing platform, Grab, is investing US$700 million ($987.5 million) over next five years to grow the country’s digital economy.

Coined “Grab 4 Indonesia” 2020 masterplan, the investment roadmap is endorsed by the Indonesian Government’s Investment Coordinating Board, Badan Koordinasi Penanaman Modal (BKPM).

Through the master plan, Grab intends to set up a research and development centre in Jakarta to build technology innovations for the Indonesian market. The R&D centre will hire up to 150 engineers over the next two years, and develop country specific innovations based on Grab’s existing solutions.

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