As many as 5,672 companies benefited from a package of corporate incentives offered by the Ministry of Commerce, Industry & Investment Promotion between June 15, 2021, to the end of December 2021.
The services enabled desirous companies to clear, merge, cancel or adjust their commercial registers.
From the total, 3,703 companies canceled their registrations after following through on conducting clearing tasks to facilitate the rectification of their status during the above-mentioned period.
Khalis Khamis Al Masroori, the Director of Commercial Establishments Monitoring Department at the Ministry, said: “The clearing or merger of commercial registers helps address the issue of multiplicity of commercial registers.
“The process enables firms to rectify their market conditions, improve the business climate, enhance competitiveness and support the development of small and medium enterprises, he added, noting that this empowers entrepreneurs to cancel their old, non-functional registers and merit fee cancellation benefits.”
