"If southern West Java can become an agricultural industry center and its downstreaming (center), it will be a new engine of (economic) growth in West Java," Head of the BI West Java Representative Office Erwin Hutapea stated here on Tuesday.
At the West Java Economic Society (WJES) seminar, Hutapea urged the Provincial Government to look for new sectors in southern West Java that can be developed into the downstreaming center of the agricultural industry.
He remarked that the weakening of the global economy can potentially reduce export demand in the province.
To that end, he said, strategies and innovations are deemed necessary to find new sources of economic growth, one of which is by enhancing southern West Java.
"We need to continue to encourage and develop downstreaming fairly in West Java," he stated.
He explained that currently, economic growth in the province is still safe, having reached 5.25 percent in the second quarter of 2023 year-on-year (yoy). This figure was higher than the national economic growth of that period at 5.17 percent.
He assessed that West Java still depends on the manufacturing industry that contributes 41 percent to the province's economy. Meanwhile, the agricultural sector only contributes nine percent.
"The contribution of West Java's agricultural sector is still in that range. We still depend on the movement of the (manufacturing) industry," he remarked.
Furthermore, he said that West Java's economy is expected to grow between 4.7 percent to 5.5 percent by the end of this year.
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Translator: Rubby P, Kenzu
Editor: Sri Haryati
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