Economic transformation necessary amid pandemic: expert

Economic transformation necessary amid pandemic: expert

Dean of IPB University's Economy and Management faculty, Nunung Nuryanto (ANTARA/HO-IPB University/FR)

Jakarta (ANTARA) - Dean of IPB University's Economy and Management Faculty, Nunung Nuryanto, has highlighted the importance of the economic transformation in Indonesia, a phenomenon that most nations are experiencing to varying degrees amid the pandemic.

"The thing that differentiates them is the speed of the transformation within those countries themselves. For example, within one nation's development, the transformation is characterized by the role of one sector being replaced by another sector," he said in an official statement received here on Wednesday.

The academician explained that Indonesia, as an archipelago state, needs a different economic transformation strategy than other nations.

Economic transformation will not be easy because the design will need to be constantly perfected, he pointed out.

"Every related party must accompany this transformation process so that it can be implemented on the field. In our current pandemic, we need to pay attention to what we need to do to accelerate our economic transformation process. This is the momentum to accelerate that process," Nuryanto stressed.

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He said he and his team have studied the nation's economy over the 1997-2020 period and found that Indonesia's economic structure has been changing along with its development strategy. However, Java Island has remained consistent as the nation's economic center, contributing no less than 58 percent to the economy, he noted.

To fix the issue, he suggested the economic transformation capability of each province be studied. By observing the resources in those regions, policy makers can determine concrete steps, Nuryanto said.

"Provinces that are quick to transform must be maintained, while provinces that have moderate transformation speed must be pushed to become better. Provinces that have a slow transformation speed need to have their enabling factors prepared," he advised.

In addition, human resources need to be prepared amid the ongoing pandemic, Nuryanto said.

By doing so, economic transformation can happen equally across Indonesia, and not just be focused on one island, he remarked.

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