15 new joint stock firms established

MUSCAT: Khalid bin Khamis al Masroori, Director of Commercial Establishments Control Department at the Ministry of Commerce and Industry, affirmed that during the first half of 2018, 15 new Omani joint stock companies were licensed with a total issued capital of RO 53,560,696. He said in a statement that the total number of registered Omani joint stock companies increased from 355 companies with issued capital amounting to RO 8,397.8 million until the end of December 2017 to 386 companies with issued capital amounting to RO 8,451.4 million until the end of June 2018 The companies’ activities were distributed between commercial, service and industrial activities. He pointed out that this rise is due to the improvement of the working environment and stability of the investment climate in the Sultanate. Al Masroori also said that the number of companies subject to the Foreign Capital Investment Law increased from 8,811 with capital amounted to RO 3,642.9 million until the end of December 2017 to 9,497 companies with capital of RO 3,760.3 million until the end of June 2018.