The Securities and Exchange Commission (SEC) has opened a new extension office in Laoag City, its 14th outside of Metro Manila, to strengthen its regulatory oversight and support economic growth in northern Philippines.
The Commission officially inaugurated the SEC Laoag Extension Office (EO) on January 9, 2024. The office is located on the fifth floor of Dap-ayan Building in Barangay 9, Sta. Angela, Laoag, Ilocos Norte.
The SEC noted that 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.
The region also hosts eight operational Special Economic Zones that cater to industrial, commercial, and financial activities, the highest among regions without an 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.
It 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 SEC-registered 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 total number of 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.