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.
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.