Why Your ICV Certificate Is the Beginning, Not the End

By Yousif N. Alkhanjari, CPAChairman & Group CEO, Assist Plus Group

For many organizations, receiving an In-Country Value (ICV) Certificate marks the completion of a demanding process. Financial statements have been finalized, documentation submitted, calculations verified, and the certificate issued.

The project is considered complete—until renewal time.

While this approach satisfies compliance requirements, it overlooks one of the greatest opportunities the ICV Program offers.

An ICV Certificate should not be viewed as an endpoint.

It should be viewed as a strategic starting point.

Looking Beyond the Score

One of the most common questions I receive from business leaders is: "How can we improve our ICV score?"

It is a reasonable question. However, I believe a more valuable question is:

"How can we build a stronger business that naturally improves our ICV performance?"

The distinction is important. Organizations that focus only on increasing their score often pursue short-term initiatives designed to influence the next assessment.

Organizations that focus on strengthening their business capabilities tend to improve both their operational performance and their ICV position over time.

The certificate becomes the outcome—not the objective.

ICV Reflects Business Decisions

Every strategic decision made within an organization has the potential to influence future ICV performance.

Examples include:

• Investing in local capabilities and infrastructure

• Developing Emirati talent

• Building resilient local supply chains

• Supporting UAE manufacturers and service providers

• Improving productivity through technology and operational excellence

• Making long-term capital investments

These decisions are primarily business decisions. Their impact on ICV is often a natural consequence.

In other words, organizations do not improve because they have an ICV Certificate.

Their ICV performance improves because they continuously strengthen their business.

Why CEOs Should Care

ICV should not be viewed solely as a procurement requirement.

It is increasingly becoming an indicator of how organizations contribute to the UAE's broader economic development.

For executive leadership, this changes the conversation.

Instead of asking:

"What score did we achieve?"

Leadership teams should also ask:

• Which investments will generate sustainable value over the next three years?

• Are we developing national capabilities within our workforce?

• Are we creating stronger relationships with local suppliers?

• Are our procurement strategies aligned with long-term business objectives?

• How will today's decisions affect our competitiveness tomorrow?

These questions belong in boardrooms—not only during ICV renewal discussions.

Moving from Compliance to Strategy

Organizations generally fall into one of three categories.

Level One: Compliance

ICV activities begin shortly before certificate renewal.

The objective is simply obtaining the certificate.

Level Two: Optimization

Organizations actively seek opportunities to improve their score through operational improvements.

ICV becomes a recurring management discussion.

Level Three: Strategic Integration

ICV principles become embedded within corporate planning, investment decisions, workforce development, procurement strategy, and long-term growth.

At this stage, ICV is no longer viewed as a compliance exercise. It becomes part of how the organization creates value. This is where the greatest long-term benefits are achieved.

The Future of ICV

As the UAE continues strengthening local industry, manufacturing, innovation, and national capabilities, I believe the role of ICV will continue to evolve.

The most successful organizations will not necessarily be those with the highest score today.

They will be those that consistently make strategic decisions that strengthen their businesses while contributing to the national economy.

Their certificates will simply reflect the quality of those decisions.

Final Thoughts

An ICV Certificate is renewed every 14 months. Business strategy is renewed every day.

Organizations that integrate ICV thinking into their long-term planning are likely to be better positioned for sustainable growth, stronger competitiveness, and greater resilience.

Perhaps the real measure of success is not the score shown on the certificate.

It is whether the organization is building capabilities that continue creating value long after the certificate has been renewed.

Call to Action

At Assist Plus, we believe ICV should be more than a certification process. It should serve as a strategic framework that helps organizations strengthen operations, enhance competitiveness, and contribute meaningfully to the UAE's economic vision.

If your organization is looking to move beyond compliance and develop a long-term ICV strategy, our team would be pleased to support your journey.