This study examines the analysis of the efficiency of foreign debt and foreign investment on sustainable economic growth in form of economic welfare represented by Gross Domestic Product (GDP), Human Development Index (HDI), and the per-centage of the population working as benchmarks for the welfare of ASEAN developing countries, namely Malaysia, Thailand, the Philippines, Indonesia, Vietnam, Cambodia, and Laos. The variables studied were divided into two variables: input variable is foreign debt and foreign investment, while the output variable is GDP per capita, human development index, and working population. The method used is the Data Envelopment Analysis (DEA) used to measure the efficiency of an input variable to the output variable. In the theory of economic growth, Harrod-Domar stated investment is the key to the process of sustainable economic growth. The results of this study are, for six ASEAN developing countries such as Malaysia, Thailand, Vietnam, Philippines, Cambodia, Laos, and Indonesia there are indicated by the value of efficiency, which means foreign debt and investment is quite efficient in its management by increasing their sustainable economic growth as well as their economic well-being.

Foreign Debt, Foreign Investment, Efficiency, Data Envelopment Analysis (DEA), Economic Well-Being