Tuesday, March 19, 2024 | Ramadan 8, 1445 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

63 pc rise in commercial registrations in Q1 2017

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MUSCAT: The Ministry of Commerce and Industry has announced that there was a 63-per cent growth in the number of trademarks, commercial authorisations and commercial agencies to reach 7,498 requests in first quarter of this year, compared to 4,596 during the same period in 2016.


The ministry pointed out that the number of commercial authorisations in the first quarter of this year touched 4,526, compared to 547 in the first quarter of 2016.


This was due to the amendments the government has brought by lowering price regulations, thus prompting more companies to present requests during this quarter.


The Department of Statistics in the Ministry of Commerce and Industry said that the total number of trademarks including the requests for trademarks, patent requests, industrial models requests and author’s rights requests that were registered in Q1 of 2017 has reached 2,246, compared with the same period in 2016, when there were only 2,097 registrations.


Moreover, the number of commercial authorisations, import authorisations and exhibition authorisations reached 4,952 in the first quarter of this year, compared to 2,050 during the same period of 2016.


The ministry pointed out that the total number of commercial agencies including various types, authorisations to sell various types of oil products and the professional agencies has declined to 300 in the first quarter of this year, compared with 449 during the same period in 2016.


The Ministry of Commerce and Industry has said that it continued to encourage the private sector and promote their efforts so that it contributes in developing the national economy and employing more citizens.


Moreover, the ministry is keen on supporting the two sectors of commerce and industry by developing and preparing general policies, surveys and the required legislations and to implement them effectively.


It also focuses on promoting foreign direct investments in line with the strategic schemes in economic zones and free zones to boost business and trade activities.


The ministry also pointed out that the industrial activity of exhibition management is considered an important sector as it contributes to the growth of the national economy.


It also strengthens commercial and trade activities between countries and boosts tourism, culture and political ties through this sector.


Moreover, establishing electronic transactions for import and export authorisations facilitates institutions and companies in speeding up various administrative and commercial processes, saving their time and effort.


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