SM Prime, DTI seal pact elevating MSMEs

SM Prime, DTI seal pact elevating MSMEs | Daily Tribune

In an aim to elevate the stance of micro, small, and medium enterprises, the Department of Trade and Industry and SM Prime Holdings Inc. on Monday sealed two memoranda in widening business opportunities for MSMEs.

Trade and Industry Secretary Alfredo Pascual, through its ARISE Plus program and SM Prime Holdings chairperson Hans Sy, sealed the memorandum of understanding for Business Continuity Planning (BCP) for MSMEs.

With the MOU, Pascual said they hope to replicate further training programs, as they aim to train 6,000 MSMEs nationwide on BCP from 2024 to 2027.

On the other hand, Pascual and SM Supermalls president Steven Tan signed a separate memorandum of agreement for promoting the One Town, One Product (OTOP) of SMEs in SM Supermalls, all to strengthen MSME resilience and provide greater market access for local products.

In his speech, Pascual noted that the partnership underscores SM and DTI’s collective effort to empower MSMEs — the backbone of our economy.

“We are building a more robust, more resilient business landscape by equipping them with disaster preparedness knowledge and tools. Aligned with one of our strategic priorities, we are elevating enterprises and entrepreneurs, particularly MSMEs, to ensure their inclusive, innovative and sustainable development,” he said.

Climate risk highest

Citing the 2023 World Risk Index, the DTI secretary said the Philippines remains the most at-risk country in the world.

He said the report measures the risk index of 193 United Nations member countries, and the Philippines scored 46.86.

“This high risk has been our unfortunate position for several years now. With this pressing reality, our partnership with ARISE-Philippines, through SM Prime Holdings, exemplifies the power of public and private partnerships to address our hazardous vulnerabilities,” he said.

With the partnership, Pascual said he commended SM Prime Holdings for its leadership and commitment to operationalizing a disaster risk reduction and resiliency program, engaging in multi-sectoral partnerships for the said purpose.

“By partnering with ARISE-Philippines, the local network of the UN Office for Disaster Risk Reduction’s Private Sector Alliance for Disaster Resilient Societies, we are significantly bolstering our collaborative efforts to strengthen the Philippines’ resilience against natural disasters, allowing us to leverage innovative strategies to combine resources for more significant impact,’’ according to Pascual.