The Securities and Exchange Commission (SEC) on Tuesday said the increase of new incorporations and registrations in Northern Mindanao is an indication that business remains promising in the region in the last two years despite the pandemic.
In a statement, lawyer Frederick A. Enopia, officer-in-charge of the SEC-Cagayan de Oro (CDO) extension office, said for 2021, their office received a total of 1,505 registrations from 726 stock corporations; 67 partnerships; and 712 non-stock corporations.
The total number constitutes a 27.56-percent increase from its 2020 figure, which the DTI said was an indicator of a higher filing of new incorporations and applications for expansion in capital.
“This is truly evident to what we are seeing today as business starts to operate once again. We have indeed loosened up our precautionary measures, which allow these establishments to recover from the long period of economic loss,” he said.
An increase in capital applications, the figures were derived from new company registration filings.
The SEC-CDO believed these figures prove that the economy is going back to business as usual, particularly in Northern Mindanao and Caraga regions, which fall under the extension office’s jurisdiction.
Enopia also said their office has been innovative in its programs by launching different online systems for clients to use without the need for physical presence.
Such initiative of the commission, he said, has contributed a lot to the continuous delivery of services despite the restrictions.
“These initiatives have immensely helped us to continuously deliver our services towards our clients without putting much risk of contamination with the virus,” Enopia said.
‘Bagwis’ Awards for Businesses
Meanwhile, the Department of Trade and Industry (DTI) office in Misamis Occidental gave “Bagwis Awards” to eight business establishments that extended outstanding customer service for the year 2021 last week.
The recipients of the Bronze Seal Award were Unitop General Merchandise; Esprutingkle Retail Store Corporation (7-Eleven) in Oroquieta, Tangub, and Ozamiz branches; VIC Imperial Appliance Corporation (Imperial Appliance Plaza); and Princemin Corporation (Prince Hypermart-Tangub).
Meanwhile, ABI Interior Hardware and Centino Convenience Store (7 Eleven) Ozamiz branch received the Silver award.
To date, no establishment has received the gold award in the area.
The awards are conferred to business establishments that adhered to strict consumer laws, have established consumer welfare desks, and provided quality customer care to clients
During the awarding ceremony, DTI Provincial Director Jane Marie Tabucan said the DTI Bagwis Program, formerly known as the DTI-Certified Business Establishment Program, was launched on July 26, 2006.
Meanwhile, DTI MisOcc Consumer Protection Division, Supervising Head Maritess Alcampado challenged the bronze and silver awardees to next aim for the silver and gold awards, respectively.
In the province of Misamis Occidental, a total of 92 establishments were awarded by the DTI from 2008 to 2021.
Source: Philippines News Agency
