Investment growth in East Java in 2023 is thriving, with a 27.1% year-on-year increase in the realization of foreign and domestic investment in the first quarter of 2023, amounting to IDR 30 trillion. This growth surpasses the national investment growth rate of 16.5% during the same period. Governor Khofifah Indar Parawansa stated that this achievement demonstrates East Java's commitment to supporting investment and President's direction towards downstream industries, particularly the copper sector, which is a prominent downstream industry in East Java. The province has attracted investments in the mining, basic metal and non-machinery metal industries, transportation, warehousing, telecommunications, as well as the chemical, pharmaceutical, housing, industrial, and office sectors.
The proportion of foreign investment (PMA) and domestic investment (PMDN) in East Java's investment realization for the first quarter of 2023 is 48.3% and 51.7%, respectively. The high contribution of foreign investment indicates the confidence of foreign investors in the potential of East Java, especially in the post-Covid-19 recovery period. The success in maintaining the trust of foreign investors is attributed to the provincial government's efforts in managing investments, including the implementation of digital and comprehensive pre and post-licensing services. The Jatim Online Single Submission Goes Android Operating System (JOSS Gandos) has been introduced to simplify licensing processes and has issued 2,119 business permits in the first quarter of 2023. The government also emphasized the importance of ongoing efforts to maintain and improve the investment climate by controlling the pandemic and ensuring political stability in the region.
