THE Securities and Exchange Commission (SEC) on Thursday formally inaugurated a new extension office in Laoag City, Ilocos Norte, to further strengthen its regulatory oversight operations and support economic growth in northern Philippines.
“We are starting the year with the opening of the Commission’s 14th extension office. Through the SEC Laoag EO, we seek to create an environment that will encourage businesses to incorporate, enabling them to take part in driving robust economic growth in the Ilocos Region,” SEC Chairman Emilio Aquino said.
The SEC noted the Ilocos Region posted P701.47 billion in nominal gross domestic product, the second highest among all regions without an extension office in 2023.
Ilocos also hosts eight special economic zones for industrial, commercial and financial operations, the highest among regions with no extension office.
The new extension office will accommodate registration, compliance processes and other SEC-related business transactions across Ilocos Norte, Ilocos Sur, La Union and Pangasinan, to ensure timely and efficient delivery of services.
It will likewise facilitate the SEC’s investor protection and education programs to safeguard businesses against scams and other fraudulent schemes.
“By expanding our presence in this growing region, the SEC continues to show its commitment to further improving the ease of doing business in the Philippines,” Aquino said.
As of November 2024, the Ilocos Region is home to a total of 12,463 SEC-registered corporations.
The Laoag City extension office adds the SEC’s regional offices to 14, aside from three offices opened in Butuan, Koronadal and Lipa in 2024.
Other offices include Baguio, Tarlac, Legazpi, Cebu, Bacolod, Iloilo, Tacloban, Zamboanga, Davao and Cagayan de Oro.
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