East Java domestic investments surged in 2024, but foreign investments fell

East Java Governor Khofifah Indar Parawansa conveyed East Java's readiness to be a friendly host for investment, which she noted has been proven by the provision of ease of investment facilities, while accompanying President Prabowo Subianto to inaugurate PT Freeport Indonesia (PTFI)'s precious metal refinery (PMR) in the Java Integrated Industrial and Port Estate (JIIPE), Gresik Regency, East Java on Mar. 17, 2025.

The inauguration was marked by the laying of a gold miniature and the signing of an inscription by Prabowo. He was also accompanied by Energy and Mineral Resources (ESDM) Minister Bahlil Lahadalia and State-Owned Enterprises Minister Erick Tohir.

"We are trying to improve partnerships between investment-supporting business communities, conduct integrated investment promotions, prepare Investment Project Ready to Offer (IPRO) in the industrial, infrastructure, tourism, and property fields, and use the 'JOSS Gandos' [or] Jatim Online Single Submission application to improve the quality of permitting services," she explained.

Realized investments to East Java increased by 1.5 percent year-on-year (yoy) for the January to December 2024 period. Domestic investments to East Java surged by 23.3 percent, but foreign investments dropped by 21.8 percent. East Java contributed to 7.9 percent to Indonesia's total investment realization for the fourth quarter (Q4) of 2024. That achievement placed East Java only behind West Java and Jakarta Special Capital Region (DKI) for investment realization.

"Alhamdulillah, this achievement places East Java in third place nationally," said Khofifah.

Meanwhile, Prabowo specifically requested that East Java to become a friendly host for investors, and be able to maintain a good investment climate.

"Thank you, Madam Governor, East Java is indeed extraordinary, every month there are new factories, new buildings." He concluded.