Tuesday 23 / April / 2024
Muscat: As many as 348 new joint stock companies were registered in Oman, which has a combined capital of OMR7,986.6 million last year, according to the Ministry of Commerce and Industry.
The number of administrative decisions issued for licensing the establishment of Omani closed joint stock companies reached 17 during last year, which is a positive indicator for this category of companies, especially since the activities of these companies are distributed among commercial, industrial and service sectors that play their role in pushing the wheel of development.
Abdullah bin Salim Al Araimi, director of the Department of Audit and Control of Commercial Establishments at the Ministry of Commerce and Industry, said that the number of companies falling under foreign investment has increased to 7,892 commercial establishments, whose capital increased to OMR3,577.1 million. These firms carry out their commercial activities in accordance with the established rules for investment that include activating their objectives and compliance with the Omanisation rules.
