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ADNOC IN-COUNTRY VALUE PROGRAM

ADNOC IN-COUNTRY VALUE PROGRAM

In November 2017, an In-Country Value (ICV) program was announced for Abu Dhabi National Oil Company (ADNOC) Group Companies with the objectives of Emiratization, GDP Diversification and strategic considerations. In 2019 and 2020, various Government and Semi-Government Companies (referred to as “Participating Entities”) have joined hands to broaden the ICV certification process for Suppliers across various sectors in Abu Dhabi and the UAE. The unified ICV the program aims to consolidate the ICV certification process in a single ICV a certificate that can be used by the supplier to participate in the programs of the participating entities.

The In-Country Value program consists of two parts, which are ICV certification and ICV Implementation.

• The ICV certification part is unified and aligned between all ICV participating entities. The unified ICV certificate will be considered by all participating entities. Therefore, Suppliers are only required to obtain one ICV certificate per legal entity that shall be used by all participating entities.

• The ICV implementation will be unique at each entity level. It represents the way each participating entity will use the certificate in its business activities. Accordingly, the ICV certificate will be considered by each participating entity in accordance with its policy.

An ICV committee is established involving representative of all the participating entities to regulate, supervise, and monitor the ICV program.

Information to Suppliers:

ICV program accommodates all suppliers in UAE. The evaluation will examine the capabilities of your business within the UAE in areas including:

Goods Manufactured in UAE

 

Third-party spend (Procurement of goods and Sub-contractors)

 

Local investment

 

Emiratization of workforce

 

Expatriate contribution

 

Exports of Goods & Services from UAE

 

 

Key considerations for suppliers:

ICV committee has provided the Supplier submission template which needs to be filled based on the latest audited financial statements and supporting information from the books of accounts. Guidance can be found in the below links:

https://www.adnoc.ae/en/incountry-value/information-for-suppliers

https://idb.added.gov.ae/Industrial-Incentives/ADLC

ICV questionnaire

  

 

How CROWE can help:

As part of the implementation of this program, the ICV committee has appointed Crowe as one of the Certifying Body to confirm the information in the supplier submission template and issue the ICV certificate. Crowe is proud to work with the ICV committee in the successful implementation of this program.

 

Contact our team for further support at

icv@crowe.ae

uae@crowe.ae

 

Contact Us

Zayd-mania
Zayd Maniar
International Liaison Partner
umesh
Umesh Narayanappa
Director – Abu Dhabi