Posted on December 10, 2016

The Ministry of Economy and Commerce has issued 1,903 commercial licences for opening new companies and branches over the last month.

The contracting companies took the lion's shares — 407 licences — followed by eateries and fast food restaurants that received 193 licences. Trades for construction materials accounted for 172 licences and businesses for general goods, clothes and garments shared 142 licences. The Ministry shut down 292 companies in November.

The closed companies account for 15.3 percent of the total number of new companies. The highest number, 26 percent of total companies shut down, were related to contracting followed by businesses for general goods, clothes and garments at 19 percent. The ministry received 26,931 applications through its headquarters and branches across the country last month. The Ministry received 42 fresh requests for patent rights and 115 for renewal. The requests for trademarks numbered 3,166. Sixteen certificates were also issued for copyrights.

source: The Peninsula