TARLAC CITY (PIA) — Securities and Exchange Commission-Tarlac Extension Office (SEC-TEO) noted 42.9 percent increase on company registration for the third quarter of 2022.
A total of 633 entities were registered this year including 157 regular corporations; 224 non-stock corporations; 44 partnerships; 45 one-person corporations; and 163 companies with less than five incorporators, compared to last year’s period with 443 newly registered companies.
SEC-TEO Director Richard Laus said the double-digit increase is a clear result of the transformation efforts of the commission in encouraging business formation amid the post-pandemic era.
“The launching of the Electronic Simplified Processing of Application for Registration of Company (eSPARC) portal supported the corporate sector in streamlining the process of business registration which improved the ease of doing business in the Philippines,” Laus said.
eSPARC system is unified with the SEC online payment portal called the Electronic System for Payments to SEC which offers the investing public a faster and more convenient means to pay registration fees.
Moreover, Laus said that through the launching of “SEC-TEO on wheels”, which reaches the investing public by creating a one-stop shop for company registration, will contribute in sustaining these numbers.
It is in partnership with local government units and other national government agencies to establish a network that will bring SEC digital services to local investors at the grassroots level.
For the interested public, SEC-TEO also caters to the concerns of its clients through email at secteo@sec.gov.ph and hotline number at 0926-902-2405. (CLJD/GLSB-PIA 3)
