The data appears in the MEC’s ‘Monthly Business Progress Report on the Commerce Sector’ for July 2017.
The report said limited liability companies accounted for 61% of new commercial records, followed by limited liability companies in the ‘single-person companies’ category at 24%, while 14% of new companies were registered in the ‘individual corporations’ category.
Contracting companies topped the list of most common activities in July with 182 commercial records issued in this field. The report also said 170 commercial records were issued for grocery and supply stores, while 110 commercial records were issued for service activities and transaction processing, followed by 107 records from the field of construction materials trading.
The report pointed out that a total of 9,744 commercial licenses were issued, amended or renewed in July 2017. Also, 952 new commercial licences were issued, while 804 were modified, and 7,988 commercial licences were renewed.
A total of 331 companies closed in July, representing 21% of newly-registered companies, the report further said.
Regarding write-off activities, the report said contracting companies topped the list at 27%, followed by electrical appliances and electronics trading at 20%. Trading in commodities followed in third place at 19%.
The report has indicated that the total number of transactions that took place during July 2017 at the ministry’s branches reached 30,448 transactions.
In the area of intellectual property rights, the report indicated that 52 new patent applications were issued in July 2017, while 149 patent applications were renewed.
In addition, 3,261 trademarks have been registered during July, while 11 certificates were issued in the field of copyright and related rights.
