Some 1,767 new companies have registered with the Ministry of Economy and Commerce last month. A total of 1,097 new main commercial registrations were made and some 670 new subsidiary commercial records were made in October 2016, according to the ministry’s monthly Business Progress Report on the Commerce Sector.
Furthermore, limited liability companies accounted for 61 percent of new commercial records. Also 23 percent of the companies were registered in the category of Single-Person Company and 15 percent of the companies were registered in the category of Individual Corporations. Contracting companies topped the list of the most common business activities, with 416 commercial records issued in this field. 187 commercial records were issued in the field of construction materials trading while 197 commercial records were issued for restaurants and groceries.
The report pointed out that 7,281 total commercial licences were issued, amended or renewed during the month of October.
