Ministry of Economy registers 2,162 new companies in July
August 15 2018 05:05 PM


The Ministry of Economy and Commerce issued the business process report for July 2018, pointing that 2,162 new companies have been registered.

According to the report, the number of new major business records reached 1622, while the number of new sub-registries reached 540 records.

Limited liability companies accounted for 61 percent of the major business registers, while the category of single owner limited liability companies in second place with 27 percent, and the individual institution came in third place with 11 percent.

In July, construction companies topped the list of the most registered activities, with 4238 registrations followed by 1397 registrations for service activities and transactions clearance, then building material trading companies with 1388 registrations, followed by the public goods trading with 1047 registration, and 930 registrations for restaurants, cafeterias, and ice cream shops.

According to the report, the number of commercial licenses issued, modified or renewed during July was 9,781 and the number of licenses issued by the ministry reached 2,376, while 913 licenses were amended, and 6,492 licenses were renewed.

The number of companies closed during last July was 278 companies, and the proportion of closed companies of new companies was 8.21 percent.

Contractors led the list of cancellation activates with 50 percent, followed by building material companies 20 percent, public goods trading came third with 11 percent, fourth was cleaning companies with 10 percent, followed by electronic appliances with 9 percent.

The number of transactions carried out in branches of the ministry during the month of July was 36,673 transactions.

In the field of intellectual property rights, the report pointed out that the number of new patent applications last July reached 46 applications, and 263 patent applications have been renewed.

The number of certificates issued in the field of copyright and related rights in July was 35 and the number of judicial seizures of the intellectual property department reached 12 during July 2018. (QNA)

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