2,429 new companies registered in November

 06 Dec 2017 - 8:29

QNA

The Ministry of Economy and Commerce issued a report on the business sector progress for the month of November, which indicated the registration of 2,429 new companies.

The report indicated the registration of 1,787 main commercial records and 642 branch commercial records.

Limited liability companies accounted for 62 percent of new commercial records followed by limited liability companies in the category of single-person companies at 27 percent while 10 percent of new companies were registered in the category of Individual Corporations, according to the report. Contracting companies topped the list of most common activities in November, with 1,225 commercial records issued in this field.

980 commercial records were issued for restaurants, cafeterias and ice cream shops, while 864 commercial records were issued for grocery and supply stores, as well as 750 commercial records were issued for construction materials trading, the report showed.

The report pointed out that a total of 9,536 commercial licenses were issued, amended or renewed during November.

According to the report, the number of licenses issued by the Ministry of Economy and Commerce reached 1,712, while 1,019 were modified and 6,805 were renewed. A total of 309 companies closed in November, representing 13 percent of newly registered companies. Regarding write-off activities, contracting companies topped the list at 27 percent, followed by the supplies trading by 21 percent. Electrical appliances, electronics and construction materials trading come in the third place by 18 percent. Grocery and grocery activities came in fourth with 16 percent.

The report also indicated that the total number of transactions that took place during November at the Ministry’s branches reached 33,576 transactions.

In the area of intellectual property rights, the report indicated that 59 new patent applications were issued in November 2017, while 181 patent applications were renewed. In addition, 4,448 trademarks have been registered during November, while 14 certificates were issued in the field of copyright and related rights.