SINGAPORE, 7 September 2017 – NTUC FairPrice (FairPrice) has committed $1 million to renew the SME Supplier’s Support and Development Programme (SSDP) for another year to help its local SME supply partners boost their capabilities for business growth. This was announced today at the launch of FairPrice’s sixth Made in Singapore Fair, an annual initiative that seeks to raise awareness for local producers and locally produced food items. The event was graced by Guest-of-Honour Dr Koh Poh Koon, Senior Minister of State for Trade & Industry and National Development.
Mr Tng Ah Yiam, Deputy CEO and Head of Products, NTUC FairPrice, 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. On the sustainability front, it also helps to reduce the carbon footprint and all businesses should also play their part. Beyond this, we also renew our commitment to help our local SMEs through the SSDP programme. FairPrice has invested more than $5 million over the last five years in this scheme to boost our SMEs’ business capabilities and at the same time help ease their cash flow.”
Over $5 million invested to support SME partners
FairPrice introduced SSDP in 2009 for the co-operative’s SME partners, which has since helped them overcome restructuring challenges and tide through the global financial crisis to rediscover their drive for growth and expansion. The SSDP was brought back in 2012 during the economic slowdown and has since been extended annually to benefit these companies. FairPrice spends about S$1 million on this scheme each year, since the programme was re-introduced in 2012. Through the programme, FairPrice has provided support to over 320 SMEs. More information on the programme is available in the Appendix.
Locally Made Ready-To-Eat Meals
This year’s Made in Singapore will feature some 50 locally made products ranging from fresh vegetables and seafood, to sauces and noodles.
One of the new products that FairPrice will be introducing is a line of chilled ready-to-eat meals by Taste Asia under the Select Group. These Halal certified meals include Asian delights such as lemongrass chicken rice, pineapple fried rice and curry chicken rice. Using blast chill technology, this keeps the meal in a chilled state that locks in the moisture and taste of the product. These products offer customers the option of a convenient and easy to prepare nutritious and delicious meal. This push for a greater range of Ready to Eat meals complements the Government’s Food Service Industry Transformation Maps (ITM), which focuses on the need to develop new growth opportunities through innovative business formats and technology. Last year, FairPrice had also launched a range of RTEs when the co-operative revamped its Cheers and FairPrice Xpress stores located at Esso service stations.
Made in Singapore Fair will run from today until 20 September, 2017 at all FairPrice stores including FairPrice, FairPrice Finest, FairPrice Xtra, FairPrice Shop, Warehouse Club and FairPrice Online.