THE Bacolod City Council approved a resolution requesting lawyer Teresita Herbosa, chairperson of the Securities and Exchange (SEC), to implement Republic Act No. 10785 or the "SEC Bacolod Office Law.
The resolution, authored by Councilor Em Ang, was approved during the regular session Wednesday.
Ang said RA No. 10785 also known as the "SEC Bacolod Office Law" was passed and approved on May 3, 2016, to improve the business climate in Bacolod City.
She said after the passage of the said law, the SEC has not established an office in the city.
"The establishment of the SEC office in Bacolod City will not only spur economic growth in the city and province but will likewise provide investor information and assistance," Ang added.
Ang disclosed that SEC Iloilo only has 11 personnel and it has processed a total of 15,760 registrations last year in which 7,000 companies were located in Negros Occidental. (MAP/VoxPop Bacolod)