More than 35,000 commercial registrations cancelled during market regulation drive

Muscat: The Ministry of Commerce, Industry and Investment Promotion has announced the cancellation of 35,778 commercial registrations that expired or ceased operations.

The move was part of efforts to regulate the market and ensure that all active commercial registers represent effective establishments and operate in accordance with applicable laws.

The Ministry pointed out that this second phase of market review targeted companies that were non-operational or expired during the past two decades (the years 2000 to 2020), but it did not include joint-stock companies or sole proprietorships.

The Ministry explained that 3,415 commercial registers were cancelled as part of the first phase of the market review that targeted companies that ceased to be operational or expired during the years 1970 and 1999.