SEC supports growth in Ilocos Region with new Laoag office
The Securities and Exchange Commission (SEC) has opened a new extension office in Laoag City, strengthening its regulatory oversight and supporting economic growth in northern Philippines.
The Commission officially inaugurated the SEC Laoag Extension Office (EO) on January 9, located on the fifth floor of Dap-ayan Building in Brgy. 9, Sta. Angela, Laoag, Ilocos Norte.
The Ilocos region posted the second highest nominal gross domestic product among the regions without an SEC extension office in 2023, at P701.47 billion. It also hosts eight operational Special Economic Zones that cater to hubs for industrial, commercial and financial activities, the highest among regions with no SEC extension office.
The SEC Laoag EO will accommodate the registration, compliance processes and other SEC-related transactions of businesses across Ilocos Norte, Ilocos Sur, La Union and Pangasinan, ensuring the timely and efficient delivery of services.
The SEC Laoag EO will also facilitate the Commission’s investor protection and education programs to safeguard businesses against scams and other fraudulent schemes.
As of November 2024, the Ilocos Region is home to a total of 12,463 SECregistered corporations.
“We are starting the new year right 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 the robust economic growth of the Ilocos Region,” SEC Chairperson Emilio B. Aquino said.
“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,” he added.
The latest extension office will also allow the SEC to foster partnerships with local government units and stakeholders, to more effectively promote the Commission’s programs and thereby support key sectors in the region such as agriculture, trade and eco-tourism.
The SEC Laoag EO brings the Commission’s regional offices to 14, following the three offices opened in Butuan, Koronadal, and Lipa in 2024. The other offices are in Baguio, Tarlac, Legazpi, Cebu, Bacolod, Iloilo, Tacloban, Zamboanga, Davao, and Cagayan de Oro. (PR)
