Penelitian ini bertujuan untuk, (i) mengetahui pengaruh parsial belanja modal dan upah minimum terhadap investasi di Provinsi Kalimantan Utara, dan (ii) mengetahui pengaruh simultan belanja modal dan upah minimum terhadap investasi di Provinsi Kalimantan Utara. Penelitian ini menggunakan metode kuantitatif dan jenis data yang digunakan yaitu data sekunder belanja modal, upah minimum, dan investasi berupa data panel. Alat analisis yang digunakan berupa analisis regresi data panel. Hasil penelitian menunjukkan bahwa secara parsial belanja modal berpengaruh signifikan terhadap investasi di Provinsi Kalimantan Utara. Kemudian upah minimum tidak berpengaruh signifikan terhadap investasi di Provinsi Kalimantan Utara. Secara simultan belanja modal dan upah minimum berpengaruh signifikan terhadap investasi di Provinsi Kalimantan Utara.

Kata Kunci : Belanja Modal, Investasi, Upah Minimum.

This study aims to (1) determine the partial effect of capital expenditure and minimum wages on investment in North Kalimantan Province, and (ii) determine the simultaneous effect of capital expenditures and minimum wages on investment in North Kalimantan Province. This study uses a quantitative method and the type of data used is secondary data on capital expenditure, minimum wages, and investment in panel data. The data analysis using panel data regression analysis The results show that partially capital expenditure has a significant effect on investment in North Kalimantan Province. Then, the minimum wage has no significant effect on investment in North Kalimantan Province Simultaneously capital expenditure and minimum wages have a significant effect on investment in North Kalimantan Province. Keywords: Capital Expenditure, Investment, Minimum Wages.