The Ministry of Commerce has disclosed a 3.9% increase in the issuance of commercial registrations during the year 2023. A total of 326,830 commercial registrations were issued, compared to 314,512 in 2022.
The sectors of wholesale and retail trade, construction, accommodation and food services, and manufacturing accounted for the highest proportion of registrations issued throughout the year.
Additionally, the ministry noted that there were a total of 277,910 commercial registrations issued for establishments, along with 48,920 commercial registrations issued for companies.
Furthermore, the ministry reported that the total number of active commercial registrations by the end of 2023 reached 1,397,803, consisting of 1,125,137 registrations for establishments and 272,666 registrations for companies. Women-owned establishments made up 38% of the total business registrations by the end of 2023.