MUSCAT: Over 500 new commercial agencies were registered through Invest Easy portal last year, according to the Ministry of Commerce and Industry (MoCI).
The Department of Agencies and Professional and Petroleum Licenses of MoCI said that these commercial agencies included 549 new agencies, 1,281 renewed agencies and 939 agencies of which registration is expired due to their non-renewal and the end of the period specified in the commercial agencies law number 26/77.
The commercial agency service is being provided on the Invest Easy portal to make the process of registration of investors and follow up their transactions easy.
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Yaqoub bin Shaykh bin Sulaiman Al-Dabouni, head of the Commercial Agencies Department at the Ministry of Commerce and Industry, said, “The commercial agency is protected according to the laws and regulations practised internationally and what is agreed upon in contracts between the foreign client and the local agent. As for the protection of the local agent, the commercial agencies law has abolished the subject of protection after the amendments made in 2014 and after issuing the Law of Protection of Competition and Prevention of Monopoly.
“The commercial agencies law 26/77 emphasises on the importance of the local agent under its article 9. It says that the agents must provide the customers with all required guarantees on all kinds of spare parts and post-sale service. Those who would not abide by this law would be punished under Article 19 of the Commercial Agencies Law,” he added.
