Informal economy a partner: CIMC

National

THE Government’s plan to drive the economy by stimulating growth in the formal sector may lead to more land allocation at the expense of the informal economy, according to a report.
The report was produced by the Consultative Implementation and Monitoring Council informal economy sectoral committee.
The informal economy caters for the majority of urban and rural dwellers.
The report said the informal economy would become more of a partner rather than a competitor to the formal sector as the mechanism would provide for dialogue between formal businesses and informal sector entrepreneurs.
Through this mechanism, it is also hoped that vendors and city authorities would be made aware of their roles and responsibilities.
The committee was concerned that there was insufficient information available to substantiate policy actions on the part of the Government to support this important part of the economy.

Leave a Reply