NTUC FairPrice decides to give SGD1 million to help SMEs

To extend a helping hand to small-and medium-size enterprises (SMEs), supermarket chain NTUC FairPrice has decided to commit SGD1 million for their development. It also announced the launch of the sixth ‘Made in Singapore Fair’ today which will continue till September 20.

The programme, christened ‘SME Supplier’s Support and Development Programme’ is for the local suppliers with an annual turnover of less than SGD5 million. This programme was first introduced in 2009.

NTUC FairPrice has decided to give SGD1 million to help SMEs in Singapore.
NTUC FairPrice has decided to give SGD1 million to help SMEs in Singapore. Photo courtesy: yelp.com

Under the scheme, suppliers can apply for support, such as discounts on listing and processing fees, and to be paid within 30 days instead of the usual 60 days.

FairPrice said, “The programme will be extended for another year. It has benefited about 320 SMEs so far.”

The supermarket chain also announced the launch of sixth Made in Singapore Fair which is an annual initiative that aims to raise awareness for local suppliers and food items.

Made in Singapore Fair will feature about 50 locally made products, including chilled ready-to-eat meals by Taste Asia under the Select Group. The halal-certified meals include dishes such as chicken rice, pineapple fried rice and curry chicken rice.

Deputy CEO and head of products Tng Ah Yiam, said, “As a home-grown brand, NTUC FairPrice continues to support local produce and locally made products. Buying local not only supports local companies, it also helps in diversifying and establishing greater food security in Singapore.”

The fair will run at all FairPrice supermarkets and on its website till September 20.

Author
Ashraf Jamal
Ashraf Jamal – Senior Writer

Ashraf Jamal brings a rare depth to writing equipped with a degree in journalism, a postgraduate degree in political science, and a degree in law from the Allahabad University. His experience includes editing and publishing the Northern India Patrika and writing for Times of India for almost a decade covering just about any topic under the sun including NRIs and Indian diaspora.

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