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Opening of an SEC branch in Eastern Visayas

The Securities and Exchange Commission (SEC) expanded its presence in the Eastern Visayas on Thursday by formally opening an office there.

โ€œToday, we are not only celebrating the inauguration of the SEC Tacloban extension office but also ushering in an even more conducive and more robust environment for business and investment in Eastern Visayas,โ€ SEC chairperson Emilio Aquino said in his speech as the agency’s Tacloban extension office at the second floor of the National Economic and Development Authority (NEDA) regional office building in Palo, Leyte, was formally inaugurated.

Given the increasing level of economic activity and the presence of economic zones in the area, the field office is anticipated to serve the needs for business registration and investment activities in the region.

The six provinces of Eastern Visayas had 10,456 corporations registered with the SEC as of May. Before, businesses had to travel to the SEC’s office in Cebu to use its services.

“The extension office will serve as a gateway to doing business in Eastern Visayas,” Aquino said. “Pursuant to the SEC’s mandate of championing the corporate sector,”

According to him, opening a new office will make it less expensive and more convenient to form and manage a corporation, partnership, or association in the provinces of Leyte and Samar.

Businessmen in the region, he continued, would not have to travel to Cebu City to obtain SEC services and buy corporate franchises, as well as the secondary licenses provided by the Commission.

Carlos Jericho Petilla, the governor of Leyte, has praised the SEC for choosing to locate an office there.

โ€œThis will encourage businesses to put up their head office in the region, changing the economic landscape of the region,โ€ Petilla said.

Also present during the ceremony were SEC Commissioners Javey Paul Francisco, Kelvin Lester Lee, Karlo Bello, and McJill Bryant Fernandez, as well as the relevant directors of all SEC divisions.

The decision to set up an office is in response to Resolution 10, series of 2021 of the Regional Development Council, endorsing the establishment of the SEC Tacloban Extension Office, which is embodied in its Jan. 24, 2022 letter.

The SEC Tacloban office is the Commission’s 10th extension office in the Philippines following Baguio, Tarlac, Legazpi, Cebu, Bacolod, Iloilo, Zamboanga, Davao, and Cagayan de Oro. Additionally, it ranks fourth in the Visayas.

The presence of SEC extension offices in the regions ensures the efficient delivery of public services and effective enforcement of laws concerning the capital market, financing and lending companies, and the overall corporate sector

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