The National Research Institute (NRI) yesterday hosted a launch that advocated the publication of a study done by Dr. Yungxian Wang on the benefits of developing Papua New Guinea’s informal economic sector into small-business enterprises (SME’s).
The report, entitled “Women’s Market Participation and Potential for Business and Advancement: A Case Study of Women Traders in Papua New Guinea”, gives a detailed account and analysis into PNG’s informal market and its importance and relevance in PNG society.
The case study highlights the current situation that resides in PNG today: the looming informal market, with all its quirks and inefficiencies, and the problems it imposes on the women traders and marketers who wish to create a more recognized and established living out of the transportation and selling of PNG produce. A formalization of the market would serve to eliminate unjust working conditions, in turn creating opportunity for the market sellers to be able to flourish as a small business enterprise.
The 31-page report includes a total of 244 personal interviews with women traders across six market places in the National Capital District (NCD). From these interviewees, 10 cases were selected and followed up with in-depth discussions to understand better their conditions, constraints and experiences in business advancement.
Dr. Wang mentioned in the launch yesterday that the formalization would not be an uncommon or unusual move, as other countries such as Cambodia have been able to integrate the informal market into the economy, being similar in economic characteristics to Papua New Guinea.
Also present at the launch yesterday was Mr. Fabian Chow, Chairman of the Fresh Food Company, who strongly supported the report and thanked Dr. Wang for providing a voice for the underrepresented sector that are so valuable, yet basically invisible.
Along with providing citizens with the chance to engage in valid and lucrative aspects of small business enterprises and creating job opportunities, Dr. Wang also mentioned in her address that formalizing these markets elevates the potential and opportunity for Papua New Guinea’s more-than-capable women in small business enterprises to flourish successfully.
error: Content is protected !!