MUSCAT, JAN 12 - The Ministry of Commerce and Industry said that the number of electronic transactions done through “Invest Easy” portal from the beginning of January till the end of December 2018 reached to 320,811, which is a massive increase over 137,333 of the same period during 2017. These transactions consisted of new registrations, renewals, modification, cancellations and addition of activities and changes in commercial names, commercial and personal import permits, certificates of origin and commercial agencies. The increase in the number of transactions in 2018 was due to investors’ interest in using personal electronic services. The electronic portal has helped in speedy processing of applications. It has clarity in the procedures and saves time and efforts as well as increases investors’ confidence.
The ministry revealed that 39,943 transactions were done in Muscat governorate last year, compared with just 15,587 transactions during 2017. In the North Al Batinah, there were 81,494 transactions done during 2018 compared to 25,884 of the year 2017. Similarly, there were 20,337 transactions done in Al Buraimi Governorate last year compared with 18,143 transactions in 2017, and in Al Dhahirah Governorate there were 50,094 last year compared with 19,255 of the year 2017. The South Al Sharqiyah Governorate did 21,358 translations in the year 2018 compared with 16,820 of the year 2017.
In Al Dakhiliyah Governorate there were 40,151 transactions done in 2018 compared with 17159 during the previous year. There were 29,814 electronic transactions done in Dhofar Governorate in 2018 compared with 9,682 transactions recorded in 2017.
In North Al Sharqiyah, there were 16,335 transactions done last year compared with 6,716 of the year 2017. South Al Batinah did 5,487 transactions during 2018 compared with 2,766 of the year 2017.
There were 14,419 transactions done in Musandam Governorate during the last year compared with 4,184) in 2017.
In Al Wusta Governorate 1,368 transactions were done last year compared with 1,128 transactions of the year 2017. In addition to this, there were 11 transactions done in 2018 in the Public Authority for Investment Promotion and Export Development (Ithra) in 2018 compared with just nine in the year 2017.
14,000 kg of gold, silver and platinum alloys stamped in 2018
The Ministry of Commerce and Industry said that the total quantities of bullion, gold, silver and platinum alloys stamped between January 1 and December 31, 2018 was 14,584 kilograms compared with 12,962 kilograms stamped during 2017.
The Directorate General of Standards and Metrology said that the gold stamped in the precious metals laboratory in the ministry in 2018 were jewellery and related accessories. They included precious and semi-precious stones, precious metals and ordinary metals clad with precious metals and articles of these materials and natural or industrially produced pearls, in addition to traditional jewellery and coins.
The Ministry of Commerce and Industry plays a major role in monitoring controlling precious metals and stones to curb illegal practices. It also protects the consumers and traders from frauds they are exposed to either from the third parties from where they import or the workers of the workshop. It also encourages precious metals industry and preserves it as heritage of the Sultanate and get rid of evasion from Customs duties.
The Ministry of Commerce and Industry has urged the consumers to see if there were Arabic numerals which symbolise gold jewellery when they go for buying gold, silver or platinum. There are
also a number of hallmarks or symbols which determines the type of workpiece, as dagger for gold jewellery and balance for silver and burj for platinum.
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