In its monthly report for commercial registration, the Ministry of Economy and Commerce, said it has registered 1,568 new companies, in which new registrations accounted for 1,059 and registration of new branches 509.
Limited liability companies (LLCs) topped the number of registrations at 77 percent, and individual corporations came second with 15 percent and single-person companies were third with seven percent.
According to the Ministry’s monthly Business Progress Report on the Commerce Sector, contracting companies topped the list of the most common activities, with 330 commercial registrations issued in this field, besides 183 commercial records for construction.
Commercial registrations for restaurants and fast food outlets accounted for 162, and some 118 registrations were for general trading and garments shops.
The Ministry’s report also indicated that the total number of licences issued or renewed or modified during the same month with 6306 licenses. Where the total number of new licenses issued by the ministry were reached 1390m, and the number of modified licenses 835, and renewed with 4081 commercial licenses.
The number of companies shut down in December reached 273 companies, counting 17.4 percent of the new companies registered within the same period.
As per the report a total of 25360 transactions were processed through the ministry’s outside branches.
In the field of protection of property rights, the report pointed out that the Ministry received in December a total of 54 applications for issuance of new patents and 107 applications for renewal of patents.
The number of commercial brands registered during the month of December reached 2743, whereas the number of certificates issued for copyrights and related rights were 19 certificates.
