75 firms join the private sector daily

An average of 75 establishments entered the private sector on a daily basis during the annual period between the second quarters of 2019 and 2020. A total of 27,467 establishments joined the private sector, with an increase of five percent in a year, Al-Watan newspaper reported.

There has been an increase in the number of all types of legal entity establishments except the limited partnership and professional establishments in the private sector during the period.

The data revealed that an overwhelming majority of them were individual establishments, which accounted for 90.5 percent of the establishments during the year 2020, which increased by 4.5 percent up from 497,168 to 519,615, shareholding establishments increased by 5 percent, up from 1996 to 2,097, and limited liability establishments by 10 percent from 41,923 to 46103.

The joint liability companies registered the highest increase of 22.4 percent, up from 3198 to 3914, while societies rose by 3.1 percent from 1689 to 1741, and regional and international organizations or bodies increased by 0.9 percent, with an increase from 106 to 107.

Professional establishments, which are considered among the lowest types of establishments in the private sector, recorded a decline after six of them withdrew from the market, as their number decreased by 7.8 percent, from 77 to 71, and limited partnership firms decreased by 2.8 percent from 874 to 850, the report pointed out.