The ICV program is designed as an assessment and scoring initiative to bolster the UAE Ministry of Industry and Advanced Technology's (MoIAT) efforts to enhance national productivity and economic sustainability within the industrial sector. Its primary objective is to elevate the contribution of local industries to the national GDP while reinforcing the role of domestic companies in the country's socio-economic progress. This certification evaluates and scores the contributions of both local and international suppliers to the UAE's local economy as an integral part of their tender and contract award procedures.
The Ministry of Industry and Advanced Technology (MoIAT) has unveiled a new National In-Country Value (ICV) Programme logo. Since its inception as a key component of the Projects of the 50 initiative, the ICV Programme has reached numerous milestones that significantly bolstered the UAE's industrial progress. It has played a pivotal role in attracting local and foreign investments and fostering the expansion of the national economy. Moreover, the programme has catalyzed Emirati entrepreneurs to establish their presence in the industrial domain while also channelling government procurement towards local enterprises. These efforts have substantially enhanced the competitiveness and sustainability of the UAE's industrial sector.
The strategic objectives behind UAE implementing the National In-Country Value Program, ICV certification can be summarised into six main objectives:
The UAE aims to localize the supply chain.
To create high-value jobs in the private sector.
Support the economic diversification and growth of the GDP.
Increase private sector contribution to GDP
Attract direct foreign investments and,
Incentivize spending on research & development and advanced technology.
Acquiring an ICV certificate offers several benefits: Increased demand for your products and services. Enhanced contracting opportunities with local government and semi-government entities. Facilitated growth in the localization of your supply value chains. Enhanced local business promotion. Access to financial incentives provided by the Emirates Development Bank (EDB). Expanded opportunities for foreign companies to enter partnerships, leveraging the competitive advantages of a joint supply chain. Establishment of contractual advantages for suppliers with partner companies and federal authorities.
Strategic localization of supply chains
Obtaining the ICV certification, the ICV provides access to ICV-linked incentives for local suppliers by:
Increasing the chances of winning the procurement tenders.
Opportunities to partner with multinational firms.
Provide new business growth for SMEs and entrepreneurs.
Promote local companies and the quality of local products.
Increase the demand for local products and services.
ICV - Benefits to participating entities
Direct benefits of the ICV to participating entities are:
Ensure business continuity and expands the variety of local supply option.
Supports localization of value chains which enhances UAE's industrial self-sufficiency.
Provide access to local supplies saving money and time.
Increase local suppliers' contribution to the national growth of the GDP.
As a potential partner and supplier to the government, the ICV certificate examines your value-added contribution in the areas of:
Procurement of third-party goods and services
Local investment and it is Growth
Emiratization of workforce
Expatriate contribution and
Generation of income from outside the UAE.
At Assist Plus, achieving comprehensive business excellence is essential for companies contributing to local and international economic development. Our holistic approach to business excellence has helped numerous companies attain their goals and position themselves as competitive market players.
By partnering with us, companies can enhance their business reputation, instil confidence in investors, and contribute to economic growth. Choose Assist Plus for your ICV assessment today and take the first step towards comprehensive business excellence.
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