Bisnis.com, BANDUNG -- The political year and global conditions that have not yet recovered mean that the economic slowdown will still occur in 2024.

Head of the West Java Investment and One-Stop Integrated Services Service (DPMPTSP), Nining Yulistiani, confirmed that the issue of an economic slowdown will still affect the rate of investment in 2024. However, opportunities remain.

"All this time I have seen in West Java that when the economy slows down, it is because of global disruption which then has its influence and then weakens," he said at the Beja vol 1 event in the East Hall, Gedung Sate, Bandung, Tuesday (9/1/2024).

According to him, West Java was affected by the slowdown due to the position of exports and industry, especially the manufacturing and processing sector which contributed 42% of the economic pie.

"Well, I see that West Java must be certified for the types of industry in West Java, including renewable downstreaming," he said.

Opportunities in this sector relate to plantations, agriculture, livestock, fisheries, maritime affairs, forestry.

"Then the downstreaming from upstream to downstream is renewable. Except for downstreaming which is end product in nature. Like EVs, where we don't have the raw materials, right, [that] is in Sulawesi, Papua or Maluku," he said.

According to him, downstream opportunities come from, for example, making batteries and battery packs as well as developing the electric vehicle industry. "We are directing this to West Java. Because the environment or ecosystem has been built in us," he said.

Nining admitted that the opportunities and investor interest in this sector are quite positive, especially from countries in the Middle East and China.

"They are responsive to wanting to develop the agricultural industry, all kinds of things. Agricultural farms and so on in West Java have huge potential because they see the potential for a food crisis in the future as well as their needs," he said.

It is believed that Nining will get the downstream potential related to food from China, but not yet the same interest from Middle Eastern countries.

"Because our exports to China are related to food. They have seen this, including in the Middle East," he concluded.

(SOURCE)