The Ministry of Industry and Advanced Technology, in cooperation with the Ministry of Economy, announced the introduction of new pricing for the National Value Added Certificate for small and medium-sized national companies as a new incentive for companies registered in the "National Program for Small and Medium Enterprises" affiliated to the Ministry of Economy, in line with the objectives of the National Strategy for Industry and Advanced Technology, to promote growth and development.
Sustainable development of the UAE economy, creating an inviting business environment for local and international investors, supporting the growth of national industry and services, and enhancing its competitiveness.
The value of the new pricing is 500 dirhams in exchange for obtaining the National Added Value Certificate - ICV, as the Ministry of Industry and Advanced Technology aims through it to motivate companies registered in the "National Program for Small and Medium Enterprises" and support the performance of companies and enable them to compete for purchases and tenders under the umbrella of the National Added Value Program, at prices Competitiveness that enhances its growth, development and expansion of its business in the national markets.
Small and medium-sized companies registered in the "National Program for Small and Medium Enterprises" at the Ministry of Economy will be able to join the national value-added program with the new pricing fees, which supports the growth and expansion opportunities for these companies, especially in light of the increase in domestic spending witnessed by the program during the past year. By 25%, with a value of 53 billion dirhams, and the expansion of the circle of entities that joined the program, bringing the total to 26 federal and local government agencies and a major national company, which will enhance the volume of business growth and expansion and competitiveness, in addition to improving the creation of more quality job opportunities for citizens.
Omar Al-Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology, affirmed that "the ministry works through an integrated methodology to empower the industrial sector in the country, enhance its contribution to the gross domestic product, and facilitate procedures that support the industrial business environment by stimulating small and medium-sized companies, in a way that supports the (Make in the UAE) initiative, and provides A stimulating and attractive environment for entrepreneurs, and opens new markets for UAE products at the local, regional and international levels.
He added, "We will work to enhance the growth opportunities for companies registered in the (National Program for Small and Medium Enterprises) by facilitating the procedures and fees for obtaining the National Value Added Certificate in cooperation with the certification bodies, which qualifies them to obtain contractual benefits with the implementing agencies of the program."
For his part, Abdullah Al Saleh, Undersecretary of the Ministry of Economy, said, "The Ministry of Economy has launched a set of innovative initiatives to support Emirati entrepreneurs and enable their emerging projects to grow and prosper, believing that the small and medium-sized enterprise model is the one that is relied upon to build the new economic model for the UAE based on Knowledge and innovation in light of the fifty goals and principles and the determinants of the UAE Centennial 2071 ».
Economic benefits
The "National Value Added Program" is one of the "50 projects" launched by the Ministry of Industry and Advanced Technology. It aims to achieve strategic localization of supply chains, develop new local industries and services, and create quality job opportunities for young nationals in the private sector. And by redirecting government purchases and purchases of major national companies to the national economy, which represents a significant growth opportunity for them, in addition to enhancing the competitiveness of Emirati products in regional and international markets, attracting more foreign investments to the country, supporting the implementation of the innovations of the Fourth Industrial Revolution and benefiting from the incentives for the technological transformation of the industry sector in the UAE.
As one of the approved ICV consulting and advisory firms in UAE, Assist Plus is
UAE Ministry of Economy as approved auditors.
Dubai International Financial Centre - DIFC approved auditors for non-regulated DIFC entities.
Federal Tax Authority - approved tax agency.
Ministry of Industry & Advance Technology approved In-country value certification - ICV certifying body.
Ministry of Industry & Advance Technology approved "Certificate of Origin" issuer.
Abu Dhabi, Industrial Development Bureau, approved certifying body for the Electric Tariff Incentive Program – ETIP.
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