This study aims to determine and examine the influence of the BI rate, government debt, private debt, population, inflation, and MSMEs on economic growth and domestic investment, and foreign direct investment (FDI) using panel data in 34 provinces in Indonesia in the 2017-2022 period. This research uses a Path Analysis model with dummy variables, grouping the system into 2 groups, namely domestic investment called Group 1 and foreign direct investment called Group 2. The results of the study show that private foreign debt (PFD) has a positive influence on economic growth, while government foreign debt (GFD) has a negative influence on economic growth. Furthermore, it was found that the BI rate and inflation showed an increase if economic growth increased, while MSMEs and the population had no influence on economic growth. PFD has no influence on domestic investment but has a positive influence on foreign investment. While economic growth has a positive effect on domestic investment, it has no effect on foreign investment. MSMEs have a significant positive influence on domestic investment and foreign investment. Meanwhile, population growth and inflation have no influence on investment, whether domestic investment or foreign direct investment.