Oman- 24 new joint stock companies established last year: Mo...| MENAFN.COM

Friday, 01 July 2022 11:26 GMT

Oman- 24 new joint stock companies established last year: MoCI


(MENAFN- Muscat Daily) Muscat- As many as 24 new closed joint stock companies were established in Oman during 2017 with an issued capital of RO46.62mn, according to the Ministry of Commerce and Industry (MoCI) statistics.

Abdullah bin Salim al Araimi, director of the audit and supervision department of commercial establishments at MoCI, confirmed that total number of completely Omani registered closed joint-stock companies increased from 340 companies until the end of 2016 to 362 until the end of last year, which are divided between commercial, service and industrial activities.

He pointed out that this rise in number of registered joint stock companies is due to the improvement of working environment and stability of investment climate in the sultanate.

Araimi said the number of companies subject to the law of foreign capital investment increased from 7,992 in 2016 to 8,811 until the end of 2017. Around 427 companies subject to the law of foreign capital investment were audited.


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