TARLAC CITY (PIA) -- The Securities and Exchange Commission-Tarlac Extension Office (SEC-TAREO) recorded an 11 percent increase on company registrations for 2023.

The commission achieved a total of 2,719 incorporated entities in 2023, significantly higher than the previous record of 2,249 registered firms for 2022. 

SEC-Tarlac Director Richard Laus highlighted that the launching of their digital reforms and expanded online services led to the improvement of the number of company registrations. 

“As the country’s corporate registrar, the SEC sought to institutionalize digital transformation to achieve efficiency and accessibility in the corporate sector. The success of this digital initiative through the launching of Electronic Simplified Processing of Application for Registration of Corporation (eSPARC) and its subsystem, the One Day Submission and Electronic Registration of Companies (OneSEC) in 2021, contributed to the higher number of registrations received by the commission for the last two years,” Laus explained. 

He likewise acknowledged the easier, faster and more convenient mode of payments through the Electronic System for Payments to the SEC (eSPAYSEC) with over 90,000 online and offline payment options nationwide. 

Newly-registered companies include a total of 1,449 stock corporations, 865 non-stock corporations, 135 partnerships, and 270 one-person corporations.

About 80% of the newly-incorporated firms registered at SEC-TAREO in 2023 were from Central Luzon followed by companies from Metro Manila, Cagayan Valley, and Ilocos Region, which comprise the remaining 20%. (CLJD/TJBM-PIA 3)