Market places are very important to societies as these provide food for households and continue to be a major source of income for vendors and Small and Medium Enterprises (SMEs) as well as contributing to government revenue.
Moreover, since market places are also central spaces for informal meetings and socialisation, an enabling market environment must be created with policy and regulation, infrastructure, services and better management.
For this to happen, PNG National Research Institute (PNG NRI) Informal Economy Program Leader and Senior Research Fellow, Dr. Elizabeth Kopel, says the function of markets should be incorporated into the local government policy and regulatory frameworks.
“Market policy and regulation with clear governance systems facilitate ongoing planning and resource allocation and guide implementation,” Dr. Kopel states in her research paper released today.
The report titled “Strategies to improve market places in Papua New Guinea” outlines several innovative ways to boost vendor incomes, create income opportunities for SMEs and increase government revenue. These include:
- Employ dedicated and skilled market workers;
- Provide infrastructure and services;
- Maintain safety and security;
- Improve revenue generation strategies;
- Encourage women representation in market governance;
- Reduce political influence affecting markets;
- Create alternate spaces for vendors selling store goods;
- Create markets as places of business; and,
- Address conflict between levels of government over market functions and revenue sharing.
Combining policy with transparent and robust systems and processes of staff recruitment and accountability for generated revenue and effective management can make markets better places for business for all users.
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Authorised for release by:
Dr. Osborne Sanida
PNG NRI Acting Director