DTI, SM partner to strengthen MSME resilience

MANILA, Philippines — The Department of Trade and Industry (DTI) has teamed up with SM Prime Holdings Inc. to help micro, small and medium enterprises (MSMEs) become more resilient.

A memorandum of understanding was recently signed by DTI with SM Prime to help MSMEs strengthen their resilience through business continuity planning (BCP).

Through the partnership with SM Prime, Trade Secretary Alfredo Pascual said the DTI would also be working with ARISE-Philippines, a network of private sector organizations aiming for a resilient and prosperous future with fewer lives lost to disasters and infrastructure resilient to natural and man-made hazards.

The network was organized through the initiatives of SM Prime with the United Nations Office for Disaster Risk Reduction.

“This partnership underscores our 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,” Pascual said.

Citing the 2023 World Risk Index, he said the Philippines remains the most at-risk country in the world to natural disasters.

He said the partnership shows how public and private organizations can work together to address the country’s hazardous vulnerabilities.

By partnering with ARISE-Philippines, he said the country can strengthen its resilience against natural disasters by leveraging innovative strategies and combining resources for a more significant impact.

He said training on BCP will be provided to MSMEs.