This study analyzes to describe and develop investments for small, medium, and large entrepreneurs and policymakers. There are 50 respondents (including experts in Investment Agency and Central Bureau of Statistics in Malang City, heads of sub-districts in Malang City, and businessmen in small, medium, and large-sized enterprises in Malang City). The research finding shows that the values of ICOR Lag 1 to Lag 3 are efficient. Therefore, the investment should be done in a long-term period. The potential areas for investment are located in three sub-districts in Malang City.