Nearly 2,000 new companies registered in a month in Oman

Energy Thursday 29/November/2018 14:31 PM
By: Times News Service
Nearly 2,000 new companies registered in a month in Oman

Muscat: Almost 2,000 companies newly registering with the Oman Chamber of Commerce and Industry in one month is good news for Oman's economy regardless of the size of the companies, the authority has said.
Data published by the OCCI concluded that "1,904 new companies" were registered with the OCCI, while a spokesperson for the OCCI said that these companies good for the Sultanate. "Every increase of companies in the Sultanate in comparison to recent years is good for the economy, as it means that there is a nurturing environment for businesses in the Sultanate.
If the company is large, then it's a given that it will aid in providing jobs to job-seekers, especially younger ones," he said. In the case of smaller businesses, there is still the benefit that comes from small entrepreneurship.
The spokesperson added, "Once you as a business owner have finished setting up a Commercial Register, you need to come to the OCCI to activate it," explaining that there isn't an automatic registration process for companies.
"This is something companies need. Any project the company wants to begin with any public institution will need an OCCI certificate."
The data from the Omani Chamber of Commerce added that on top of the newer companies, the OCCI saw "8,800 renewals of company registrations" and "314 companies changing their capital."