The Department of Trade and Industry (DTI) and SM Prime Holdings Inc. signed on Monday a memorandum of understanding (MOU) to strengthen disaster resilience among small and medium-sized enterprises (MSMEs).
The partnership underscores a collective effort to empower MSMEs, the backbone of the Philippine economy, by equipping them with disaster preparedness knowledge and tools, said DTI Secretary Afredo Pascual.
“Aligned with one of our strategic priorities, we are elevating enterprises and entrepreneurs, particularly MSMEs, to ensure their inclusive, innovative and sustainable development,” Pascual said in his message.
The MOU also provided a similar partnership with ARISE Philippines through SM Prime.
Pascual said the partnership with ARISE Philippines, the local network of the UN Office for Disaster Risk Reduction’s Private Sector Alliance for Disaster Resilient Societies (UNDRR), would bolster collaborative efforts to strengthen the Philippines’ resilience against natural disasters.
Pascual said the Philippines remains the most at-risk country in the world, making the need for such initiatives pressing.
He said the MOU is a proof of the power of public and private partnerships to address the country’s hazardous vulnerabilities.
SM Prime Holdings demonstrated its leadership and commitment to operationalizing a disaster risk reduction and resiliency program, engaging in multisectoral partnerships for this purpose.
Meanwhile, the DTI is committed to actively initiating and implementing programs that address the needs of SMEs.
The DTI and SM Prime conducted a business resilience program for SMEs, with 376 participants from SM Supermalls attending a business continuity plan (BCP) training on Sept. 7, 2023.