Qatar's Ministry of Economy Registers 1,416 New Companies in August

Doha, September 09 (QNA) - The Ministry of Economy and Commerce issued the business process report for August 2018, pointing that 1,416 new companies have been registered. According to the report, the number of new major business records reached 972, while the number of new sub-registries reached 444 records. Limited liability companies accounted for 61 percent of the major business registers, while the category of single owner limited liability companies in second place with 28 percent, and the individual institution came in third place with 10 percent. In August, construction companies topped the list of the most registered activities, with 227 registrations followed by 91 registrations for service activities and transactions clearance, then building material trading companies with 49 registrations, followed by the public goods trading with 31 registrations. According to the report, the number of commercial licenses issued, modified or renewed during August was 5,341 and the number of licenses issued by the ministry reached 823, while 448 licenses were amended, and 4070 licenses were renewed. The number of companies closed during last August was 182 companies, and the proportion of closed companies of new companies was 8.21 percent. Contractors led the list of cancellation activates with 53 percent, followed by building material companies 18 percent, public goods trading came third with 12 percent, fourth was cleaning companies with 10 percent, followed by electronic appliances with 7 percent. The number of transactions carried out in branches of the ministry during the month of August was 25,471 transactions. In the field of intellectual property rights, the report pointed out that the number of new patent applications last August reached 48 applications, and 258 patent applications have been renewed. The number of certificates issued in the field of copyright and related rights in August was 17and the number of judicial seizures of the intellectual property department reached 13 during August 2018. (QNA)