Contracting firms top MEC list of new companies
February 13 2017 11:04 PM

Contracting companies have topped the Ministry of Economy and Commerce’s (MEC) list of newly-registered firms, which appears in its recently-issued report on business and trade for January 2017.
The report set the number of newly-registered companies at 2,228, with 1,615 main commercial registrations and 613 sub-registrations. These included 60% of companies with limited liabilities, 26% of limited liability companies owned by a single person, 13% individual organisations, and 1% foreign companies. 
Contracting companies were atop these companies with 498 new commercial registrations, followed by building materials 266, restaurants and fast foods 222, and 142 registrations for other commercial activities.
During the same period, 8,186 commercial licenses were modified, renewed, or issued. The number of closed companies stood at 378, which represents 17% compared to the newly-registered companies.
The MEC said it made 30,137 transactions in January, and received 49 patent applications, in addition to 111 applications for patent renewal.

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