"Non-facilities remain the dominant contributor to the achievement," the agency's investment promotion and development division head Agus Setyoko remarked in the capital of East Java province on Thursday, November 21, 2019.
The official noted that the investment constituted domestic investment (Rp4.29 trillion), foreign investment (Rp0.14 trillion), and non-facilities (Rp32.46 trillion)
According to him, non-facilities refer to local investors including micro, small and medium-scale businesses, startups and other home industries.
However, digital start-ups constitute the largest share of the local economy.
"It turns out that digital economy is quite a defining trending. Transactions at malls are made digitally. Looking ahead, we will attempt to enter this type of business and study thoroughly the digital economy," he explained
To aid in improving the trend of investment in Surabaya, the local government has eased all licensing procedures, including those for start-ups, with the objective of drawing more domestic and foreign investment. (Antara)