More than
35,000 Commercial Registrations Cancelled During Market Regulation DriveMuscat, 8
Apr (ONA) — The Ministry of Commerce, Industry and Investment Promotion has
announced the cancellation of 35,778 commercial registrations that expired or
ceased operations.The move was
part of efforts to regulate the market and ensure that all active commercial
registers represent effective establishments and operate in accordance with
applicable laws.The Ministry
pointed out that this second phase of market review targeted companies that
were non-operational or expired during the past two decades (the years 2000 to
2020), but it did not include joint-stock companies or sole proprietorships.The Ministry
explained that 3,415 commercial registers were cancelled as part of the first
phase of the market review that targeted companies that ceased to be
operational or expired during the years 1970 and 1999.
—
Ends/Bishara/AG
