The number of new companies registered in January has increased by around 17 percent compared previous month, showing that the investors’ trust on Qatar’s economy remains intact.
A total of 3,001 new companies were registered during January 2018 compared to the 2,572 new companies registered in December 2017, said the Ministry of Economy and Commerce yesterday.
According to the Ministry’s Business Progress Report on the Commerce Sector for January 2018, the number of main commercial records reached 2,396, while the number of branch commercial records reached 605.
Limited liability companies accounted for 62 percent of new commercial records followed by limited liability companies in the category of single-person companies at 27 percent while 10 percent of new companies were registered in the category of Individual Corporations. Contracting companies topped the list of most common activities in January with 444 commercial records issued in this field. A total of 206 commercial records were issued for construction material trading while 155 records were issued for grocery stores and supply shops. The field of public trading followed with 140 records while restaurants, cafeterias and ice cream shops accounted for 126 records.
The report pointed out that a total of 8,204 commercial licenses were issued, amended or renewed in January. As many as 1,813 new commercial licenses were issued while 978 were modified and 5,413 commercial licenses were renewed. A total of 418 companies were closed in January, representing 14 percent of newly registered companies.
Regarding write-off activities, contracting companies topped the list at 36 percent. Trading in construction materials, electrical appliances and electronics followed in second place at 18 percent while public trading companies came third at 17 percent.
The report has indicated that the total number of transactions that took place during January 2018 at the ministry’s branches reached 33,116 transactions.
In the area of intellectual property rights, the report indicated that 44 new patent applications were issued in January while 230 patent applications were renewed. In addition, 4,011 trademarks have been registered during January, while 42 certificates were issued in the field of copyright and related rights.
The Peninsula Qatar