The Ministry of Commerce and Industry (MOCI) issued around 4,000 commercial registrations and around 12,000 commercial licenses in the second quarter of this year. During the same period, 10,334 requests for the renewal of commercial registrations, according to official records.
MOCI’s Commercial Registration and Licenses Department manages policies for trade agents, businesses, and commercial registrations, while overseeing markets, private sector activities, and the Commercial Registry and Trade Agents Register. The department also reviews trade contracts and ensures food and fodder certificates meet standards.
It is worth noting that the MOCI has reduced service fees to accommodate trade, industry, business development and consumer protection policies, as reported by Saba IP in July, which intends to support economic growth, boost national and foreign enterprises as well as create a business-friendly environment for investments.
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