265 companies established in 2009

265 companies established in 2009

The number of companies established in Yemen increased by 265 in 2009 with total capital of over YR 9 billion, compared to the 238 companies established in 2008.
 
Legally, the companies took the form of 244 limited companies, 17 individual companies and four joint stock companies.
 
A report issued by the Companies Administration at the Ministry of Industry and Trade showed that companies operating within the trade areas, which were established last year, were ranked first in growth, with 106 new companies, followed by the service sector, with 101 fledgling companies.
 
According to the official report issued by Ministry of Trade and Industry, 35 companies have been established in the construction sector, with an additional company undertaking development within the fisheries sector.
 
In terms of legal form and volume of capital, the report outlined the divide of the 244 limited companies, with a combined capital of YR7.7 billion. The 17 individual companies have a combined capital of YR 181 million, while the 4 joint stock companies feature a combined capital of YR 263 million.
 
During 2009, the administration completed procedures amending regulation and establishment contracts of 82 companies. The administration has also renewed the procedures of 60 companies in addition to liquidating 3 limited companies.

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