Over 5,600 companies avail merger, clearing incentives in Oman

Muscat: As many as 5,672 companies benefited from a package of corporate incentives offered by the Ministry of Commerce, Industry and Investment Promotion between 15 June 2021 to the end of December 2021.

The services enabled desirous companies to clear, merge, cancel or adjust their commercial registers.

Among the total, 3703 companies cancelled their registers after, following conducting clearing tasks to facilitate the rectification of their status during the above-mentioned period.

Khalis Khamis Al Masroori, Director of Commercial Establishments Monitoring Department at the Ministry, said that the clearing or merger of commercial registers helps address the issue of multiplicity of commercial registers.

The process enables firms to rectify their market conditions, improve the business climate, enhance competitiveness and support the development of small and medium enterprises, he added, noting that this empowers entrepreneurs to cancel their old, non-functional registers and merit fee cancellation benefits.