The Securities and Exchange Commission (SEC) has inaugurated a new extension office in Laoag City to enhance regulatory services and support economic growth in the Ilocos region.
The Ilocos region, which posted a nominal Gross Domestic Product (GDP) of ₱701.47 billion in 2023, is the second-largest economic contributor among regions without an SEC extension office. It also hosts eight operational Special Economic Zones, which serve as hubs for industrial, commercial, and financial activities.
The SEC Laoag EO will streamline SEC-related transactions, including business registration and compliance processes, for companies in Ilocos Norte, Ilocos Sur, La Union, and Pangasinan. This will improve efficiency and support businesses in these areas.
“We are starting the new year right with the opening of the Commission’s 14th extension office. Through the SEC Laoag EO, we aim to encourage business incorporation and contribute to the region’s economic growth,” SEC Chairperson Emilio B. Aquino said in a statement.
The new office will also enhance the SEC’s investor protection and education initiatives to guard businesses against fraud and financial scams. As of November 2024, the Ilocos region has 12,463 SEC-registered corporations.
The SEC Laoag EO also provides an opportunity for the Commission to collaborate with local government units and regional stakeholders to promote key sectors such as agriculture, trade, and eco-tourism.
With the opening of the Laoag office, the SEC’s regional office count rises to 14, joining new offices in Butuan, Koronadal, and Lipa that were launched in 2024. Other existing offices are in Baguio, Tarlac, Legazpi, Cebu, Bacolod, Iloilo, Tacloban, Zamboanga, Davao, and Cagayan de Oro.
