The In-Country Value (ICV) program was launched by the Abu Dhabi National Oil Company (ADNOC) in 2018. The primary goal of the ICV program was to boost local economic development by encouraging businesses to invest more in the UAE's economy. By fostering partnerships with local suppliers and increasing the hiring of Emirati nationals, ADNOC sought to ensure that more of the value generated by companies would remain within the UAE.
ADNOC introduced the ICV program to enhance the UAE’s supply chain and stimulate local business activities. It required companies bidding for contracts to obtain an ICV certificate, which measured their contribution to the UAE’s economy in terms of local procurement, employment of UAE nationals, and investment in local infrastructure.
Due to the success of ADNOC’s initiative, the ICV program was expanded across the UAE under the National In-Country Value (ICV) Program, led by the Ministry of Industry and Advanced Technology (MoIAT). This allowed government entities, as well as large industries in various sectors, to adopt ICV standards.
The program aligns with the UAE’s economic vision of reducing dependence on imports, encouraging local production, and creating jobs for Emiratis. It also supports the UAE’s Operation 300bn, a strategy to boost the industrial sector and create a sustainable, diversified economy by 2031.
Initially focused on the oil and gas sector, the ICV program has since expanded to various industries, including defense, energy, and telecommunications. Its application encourages businesses from different sectors to contribute to the local economy and enhance the overall sustainability of the UAE’s growth.
To qualify for an ICV certificate, businesses must meet certain requirements:
Government and semi-government entities prioritize companies with high ICV scores in awarding contracts.
Demonstrating your company’s commitment to local sourcing and hiring benefits the UAE’s economic growth.
With an ICV certificate, your business stands out in tenders, opening doors to new opportunities.
Being certified shows a strong commitment to the UAE’s development goals, which enhances your market standing.
Ensure your company’s financial statements are audited and comply with IFRS standards.
Assess how much of your goods and services are procured within the UAE.
Prepare documentation on your company’s local workforce, including Emiratization efforts.
Keep key business documents ready, such as contracts, invoices, and employment records.
The ICV program assigns a score to businesses based on their local content and economic impact. This score is calculated by evaluating various factors, such as:
The ICV certificate is valid for one year from the date of issuance. Companies must renew the certificate annually to maintain their eligibility for government tenders and to reflect any changes in their ICV score.
