Muscat: The Ministry of Commerce, Industry and Investment Promotion has announced the cancellation of 35,778 commercial registrations that have either expired or ceased operations.
This action is part of ongoing efforts to regulate the market, ensuring that all active commercial registrations accurately reflect functioning businesses that comply with relevant laws.
The Ministry noted that this second phase of the market review focused on companies that were either non-operational or expired over the last two decades (from 2000 to 2020), excluding joint-stock companies and sole proprietorships.
Additionally, the Ministry indicated that 3,415 commercial registrations were revoked during the first phase of the market review, which addressed companies that ceased operations or expired between 1970 and 1999.
