03 Dec 2017

Ministry of Investment, Trade and Industry under the Trade Act of 2003, has reserved 17 Trade Activities for citizens and Companies wholly owned by citizens.

A press release from the ministry says government periodically reviews the various trade licenses, and recently recommended reservation of two more business activities, being, imported pre-owned motor dealer and cell phone shop licenses.

The release further says in line with the development, it has come to the attention of the ministry that the above business license holders are concerned that their licenses will be revoked.

The release wishes to clarify that reservation of licenses will not affect those who already possess these licenses as Trade Licenses are indefinite by their nature and the law will not be applied retrospectively. 

It furthermore says the reservation will only apply to new businesses coming into these activities.  BOPA