Doha, June 01 (QNA) - The Ministry of Commerce and Industry (MoCI) on Monday launched an update of commercial activities registered under the Unified Economic Guide for the Classification of Economic Activities in the Gulf Cooperation Council (GCC) countries.
In a statement, the Ministry said the update aims to unify classifications, improve data quality, and enhance transparency in the business environment, without affecting the nature of activities or commercial registrations.
The Ministry noted that the initiative seeks to align registered activities with the GCC Unified Economic Classification and develop a more accurate classification system that reflects regulatory requirements and economic developments. It also aims to streamline procedures, establish a unified reference framework for activities, and reduce overlap and duplication.
According to the Ministry, the update targets business owners, existing companies, and relevant government entities, and will be implemented in three phases.
The first phase, which begins on Monday, covers companies whose registered activities correspond directly to a specific activity within the Unified Economic Classification.
The second phase will begin on June 15 and will include activities that correspond to more than one classification category.
The third phase will start on June 30 and will cover mixed activities, including both commercial and industrial activities.
The Ministry confirmed that the update process will be carried out automatically in accordance with the approved classification and will not require any action by business owners. It added that the update will not affect the nature of activities or commercial registrations. (QNA)