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MOCI urged registered commercial agents in the Sultanate to renew registration of their agencies

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Sun, 13/5/2018

The MOCI has urged registered commercial agents in the Sultanate to renew registration of their agencies according to the conditions agreed upon in the contract within three months from the date of publication of the advertisement in the local newspapers dated 3 May 2018.

The ministry has said that in case of non-renewal, it will cancel the registration of their commercial agencies according to Article 15 of the Commercial Agencies Law released under Royal Decree No. 26/77. The Article 15 gives the ministry the power to cancel the agency's registration if it is proved that it was based on wrong and incorrect information. The agency's registration is also canceled at the request of the client when its term expires and there is no agreement with the agent for renewal of the contract provided that the agent intimated about his interest in renewal of the the agreed date, which should not not be less than three months. Otherwise, the agency would be renewed for the agreed period.

The department of the commercial agencies and professional licenses of the Ministry of Commerce and Industry said that the number of applications for commercial agencies registered between January 1 and December 31, 2017 reached to 744. During the four months of the current year 2018, there were 206 applications made for commercial agencies.

The ministry said that the services provided through the "Invest Easy" portal was aimed at making the process of registration for investors and follow up of their transactions easy. The ministry is constantly trying to make all its services easy to access and simple for investors and entrepreneurs. It is transforming all its services to become electronic and self-service.

The ministry has urged investors, companies and owners of small and medium enterprises to use the services offered on the portal and identify the opportunities in the market which can help them expand their activities as well as their share in the market.

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