MANILA, Philippines — The Securities and Exchange Commission (SEC), the corporate regulator, has opened a new extension office in Tacloban in Leyte, responding to the request of House Speaker Ferdinand Romualdez and the Regional Development Council (RDC) of Region VIII.
The new SEC office would put the city a step closer in becoming a “thriving hub of business activity” in the country, said Romualdez.
Furthermore, he said the establishment of the new SEC office reaffirms the local government’s commitment to fostering an environment that promotes fair business practices and protects the interests of both investors and the public.
“With this new office, we are equipping our city with the necessary tools to attract investment, encourage entrepreneurship, and promote economic growth,” Romualdez said in a speech, delivered by lawyer Dennis Aran Abril during the inauguration of the SEC Tacloban extension office.
In 2021, Regional Development Council of Region VIII issued Resolution 110, Series of 2021, formally requesting the SEC to establish an extension office in the region to address the growing business activities in the area.
Officers of registered corporations have cited the difficulty of having to travel to the SEC Cebu office, the nearest SEC extension office, to comply with their requirements.
“I firmly believe that investing in our community is an investment in our collective future. By supporting initiatives that bolster economic development, we create opportunities for our fellow citizens to flourish and succeed,” the house speaker said.
The SEC said the establishment of the SEC Tacloban extension office is also in line with studies showing the region’s level of economic activity, presence of economic zones, number of businesses registered with the Department of Trade and Industry, and the growing number of corporations registered with the Commission.
It also expands the Commission’s capacity to offer its services to the public by bringing the capital market closer to the region’s investors and financial consumers, the SEC said.
The SEC, led by chairperson Emilio Aquino and Commissioners Javey Paul Francisco, Kelvin Lester Lee, Karlo Bello and McJill Bryant Fernandez, formally inaugurated the SEC Tacloban extension office on May 11.
The new office is located on the second floor of the National Economic and Development Authority Regional Office VIII building, Government Center in Barangay Baras, Palo, Leyte. The SEC Tacloban EO marks the Commission’s 10th extension office in the country, and fourth in Visayas.