The number of industrial licenses and customs and tax exemptions handed out in Oman during the first quarter of 2019 increased by 602.1 percent compared to the same period last year.
Figures from the department of statistics at the Ministry of Commerce and Industry reveal there were 2,654 given, up from 378 in Q1 2018.
The number of industrial licenses in the first quarter of this year was 2,519, compared with just 326 licenses issued in the corresponding period last year.
According to a report in the Times of Oman, the increase is due to companies applying for new licenses rather than renewing old ones. Most companies also submitted the application due to the expiry of their environmental approvals.
The number of customs exemptions during the first quarter of the year 2019 was 130, compared with just 39 of the same period last year.
There were five applications for tax exemptions during the first quarter of this year, compared with 13 applications in Q1 2018.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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