Muscat: In 2024, the total number of new, renewed, and cancelled commercial agencies reached approximately 2,043.
This figure encompasses the registration and renewal of numerous commercial agencies, along with inspection initiatives aimed at ensuring adherence to the Commercial Agencies Law No. 26/77.
The Secretariat of the Commercial Registry at the Ministry of Commerce, Industry, and Investment Promotion reported that this total included 458 new agencies, 944 renewals, and 413 agencies that had expired due to non-renewal and the expiration of the terms specified in the Commercial Agencies Law.
Yaqoob bin Shayikh Al Dhabouni, Head of the Division of Registration of Commercial Agencies at the Ministry, emphasized the ministry's commitment to regulating the commercial agencies sector. He highlighted the importance of local agents renewing and updating their agencies through the Oman Business Platform to promote market transparency and ensure the smooth flow of goods in accordance with applicable laws. He noted that the Ministry actively monitors agents' compliance with legal requirements.
He also stated that appropriate legal measures would be taken against those who violate the law.
Additionally, he urged investors to take advantage of the available resources to ensure compliance and avoid potential penalties.
The Ministry of Commerce, Industry, and Investment Promotion remains dedicated to enhancing the legislative framework governing commercial agencies to foster a better business environment and support the national economy.
