Muscat, License has been issued for the foundation of 16 new Omani closed joint stock companies in 2019 with total issued capitals reaching RO20.36 million, according to a report by the Ministry of Commerce and Industry's Commercial Establishments Control Department.

The number of Omani closed joint stock companies stood at 396 in 2019, with aggregate issued capitals of RO8.43 billion, said Khalid bin Khamis al-Masroori, Director of Commercial Establishments Control Department, Ministry of Commerce and Industry.

Al-Masroori added that the number of companies governed by the Foreign Investment Law stood at 21,581 firms in 2019 with capitals of about RO66.28 billion.

Source: Oman News Agency