Updated: Feb 19
The In-Country Value Program (ICV) is a promising scheme initiated by the Abu Dhabi National Oil company ADNOC. In 2018 ADNOC kicked start the program to drive economic divarication and achieve the optimum value from our nation’s oil and gas resources.
The In-country value designed to achieve optimal worth
Diversify the Gross Domestic Production through increasing expenditure on local goods and services.
Supporting the private sector to contract Emirati's in their organization and create the right skill set to develop UAE Nationals' abilities.
The localization of the supply chain and promote exporting of the local goods in the longer run.
It examines value-added contribution to the UAE in areas including: - Manufacturing locally. - Third-party goods and services procurement - Local investment and it is growth - Emiratization of workforce - Expatriate contribution - Generation of income from outside the UAE
Who Needs a Unified ICV Certificate? Manufacturers and service providers intend to do direct or indirect business with ADNOC and group companies, the public sector, and semi-government entities.
The ICV program is designed to create profound social and commercial benefits that contribute to sustainable economic growth and development.
It will promote GDP diversification, create job opportunities for UAE Nationals in the private sector, and provide local businesses with more opportunities to participate in business activities with the participating entities. As such, the program stimulates broad-based economic growth, benefiting all relevant stakeholders.
In 2020 Abu Dhabi Department of Economic Development, Aldar Properties, Mubadala, Abu Dhabi Ports and ENEC signed a Memorandum of Understanding to include the In-Country Value (ICV) Certification process in their supply chain following the steps of ADNOC.
With the successful implementation, the ICV is now planned to go nation wide in 2021 to cover the whole country.
Assist Plus Accounting and Auditing services is an approved certifying body that completes certification of the ICV score on an annual basis submitted by the supplier to ADNOC for every proposal they make. Our experienced financial experts will work with you to implement the ICV program for you quickly.