“National Economy” recorded 162 new organization companies in the the West Bank governorates

 Palestine Economy Portal

The ministry of National Economy said, on Monday, that it recorded 162 new companies during the past month in the West Bank governorates with a total capital of approximately $17.8 million USD.

According to a monthly report issued by the department of Policy and statistics in the Ministry, the number of newly registered companies for April 2019 decreased by %8.0 compared to the previous month as well as the same percentage with the corresponding month of 2018. The equity capital for these companies scored a decrease of %52.5 compared to the previous month, and a %12.3 decrease compared to the March 2018, whereas:

Commercial register

The report noted that a number of new registered sellers in the commercial register decreased by %12.1 in April compared to the previous month, and it increased by %169.8 compared to April 2018. In April 2019, the ministry of National Economy registered 432 new sellers.  

Factory Licensing

The results of the report stated that the ministry licensed 5 new factories in the same period of time with an equity capital of approximately 4.9 million USD, whereas the number of the registration of new factories decreased by %68.8 compared to the previous month and %72.2 compared to the same month in the year of 2018. The equity capital also witnessed a %74.7 decrease for these factories compared to the previous month and %47.3 compared to the same month in 2018.

Certificates of Origin

The ministry ratified 528 certificates of origin worth 11.1 million USD. The certificates of origin’s worth recorded a %7.5 decrease in April 2019 compared to the previous month. Their worth increased by %6.7 compared to the April 2018.this month recorded a %20.5 increase compared to the previous month, compared to a decline of 13.6% compared to the corresponding month of 2018.

Import Licenses

The number of import licenses of April 2019 increased by %12.2 compared to the previous month. Whereas that same number decreased by %27.3 compared to April 2018. The import licenses worth also increased by %15.5 compared to the previous month, and %17.0 compared to the corresponding month of 2018, where the Ministry of National Economy issued 1907 import licenses during the month of April 2019, with a total value of about 186.1 million dollars.

Consumer Protection

The consumer protection crew in the ministry went on 401 inspection rounds during the previous month. They visited 2710 shops, 172 shops violated the instructions and laws, 26 sellers were transferred to the judiciary for violating laws.

 

Control and Stamping of Precious Metals

The amount of gold received by the directorate of Control and Stamping of Precious Metals increased by %7.9 compared to the previous month and a %4.6 decrease compared to April 2018. The amount of stamped gold for this month increased by %8.1 compared to the previous month, it decreased by %4.0 compared to the corresponding month of 2018; where the amount of stamped gold reached approximately 895.427 kilograms.

Intellectual Property Rights

Regarding the intellectual property rights, 218 trademarks were filed by the ministry for registration in April 2019. 300 new trademarks were actually registered, as well as the renewal of 118 trademarks after the passing of the 7 year mark on their registration. On another spectrum, one industrial drawing was filed, but none was registered. 2 patents were filed; in contrast, no patents were registered during April 2019.

Decentralization Services

A number of decentralized services decreased by %1.6 in April 2019 compared to the previous month and by %13.9 compared to April 2018. The Ministry provided 5,343 decentralized services through its sub-directorates.