1,932 new firms registered in March

A total of 1,932 new companies were registered in March 2018, said the Ministry of Economy and Commerce. According to the ministry’s Business Progress Report on the Commerce Sector for March 2018, the number of new major business records reached 1,525, while the number of new sub-registries reached 407 records.Limited liability companies accounted for 62% of the major business registers, while the category of single owner limited liability companies in second place with 26%, and the individual institution came in third place with 11%. During the month of March, construction companies topped the list of the most registered activities with 5951 registrations in this sector, in addition to 1,011 for commercial activities on groceries and supplying. The ministry also issued 1,073 trade registers for trading in public goods, and 1,629 others for trading in construction materials. According to the report, the number of commercial licences issued, modified or renewed during December was 7,811, the number of licences issued by the ministry reached 1,498, while 869 licences were amended, and 5,444 licences were renewed.For the number of companies closed during last March, construction companies topped 50%, the trade in building materials came second with 20%, the trade of public goods ranked third with 12%, electrical and electronic equipment and accessories came fourth with 10% and restaurants, cafeterias and ice cream shops came fifth with 8%.As for the transactions conducted in the external branches of the ministry during March, there were 35,215 transactions.In the field of Intellectual Property Rights, the report pointed out that the number of new patent applications last March reached 52 applications, and 239 patent applications have been renewed.The number of trademark applications registered last month was 22, in addition to 46 certificates issued in the field of copyright and neighbouring rights.