Number of companies registered in Oman rises by over 30%

Number of companies registered in Oman rises by over 30%

Muscat: The number of companies registered with the ministry increased by 30. 18 per cent to reach 5, 620 in the first quarter of 2021, compared to 4, 317 in the same period of 2020, according to MoCIIP. Statistics of the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) show that recorded companies in the first quarter of this year saw an increase in individual merchant companies, limited liability companies, one-person companies, home business companies and street vendors. "This increase in the number is due to several reasons, including the tendency of investors to utilise the self-service facility and to take the advantage of the e-government services as well," the ministry said in a statement. The Statistics Department of the ministry clarified that the commercial companies registered include 3, 006 individual merchant companies, in the first quarter of 2021, compared to 2, 257 recorded in the same period of the last year 2020. As many as 1, 099 registries of LLCs were recorded in the first quarter of 2021 compared to 919 in the same period last year. The number of one-person companies recorded was 955 as against 666 registries in the same period of last year. The number of