The Securities and Exchange Commission (SEC) of the Philippines announced a record-breaking 52,000 new company registrations in 2024, driven by digital initiatives that have streamlined the process. SEC Chairman Emilio Aquino attributed this success to the commission's focus on digital transformation, stating that it has made doing business in the country more efficient. The SEC plans to continue these efforts in 2025, exploring new strategies to further improve the ease of doing business.
The Sec urities and Exchange Commission said Tuesday it registered over 52,000 new companies in 2024, an all-time high, on the back of digital initiatives that made doing business in the country more efficient.- Advertisement -“Digital transformation has always been one of the top priorities of the SEC to improve the efficiency of our services.
The SEC said the bulk of newly-registered firms were stock corporations, which accounted for 75 percent, or 39,146, of the newly registered companies. The SEC said the newly-registered one-person corporations posted a 27 percent growth to 8,640 in 2024 from 6,794 in 2023. The services sector dominated the new registrations at 86 percent, or 44,872, with the wholesale and retail trade, and repair of motor vehicles and motorcycles segment recording 12,479 new registrants.
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