MUSCAT: The Ministry of Commerce and Industry said that 18 new Omani closed joint stock companies were licensed in 2018, with issued capitals of RO 14,233,333. Khalid bin Khamis al Masroori, Director of Audit and Control Department on Commercial Establishments at the Ministry of Commerce and Industry, said that the number of Omani closed joint stock companies increased from 362 with issued capital hitting RO 8,397.9 million until the end of December 2017 to 380 companies, with issued capitals amounting to RO 8,412.0 million until the end of December 2018. Al Masroori added that the number of companies subject to the foreign capital investment law, increased from 7,992 with capitals that amounted to RO 3,642.9 million until the end of December 2017 to 8,811 companies with capitals that stood at RO 3,760.3 million until the end of last December 2018. He pointed out that 1,100 applications were financially completed in 2018 through Invest Easy portal. He added that the financial statements and reports of the Board of Directors were studied. — ONA
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