National In-Country Value Program of - Ministry of Industry and Advanced Technology
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 have joined hands to broaden the ICV certification process as a Unified ICV program for Suppliers across various sectors in Abu Dhabi and the UAE (called participating entities).
In second half of 2021, the ICV Program has been introduced by Ministry of Industry and Advanced Technology (MOIAT) as a National In-Country Value Program (ICV). The program takes into consideration local expenditure on manufacturing, local products and services, local investments, and the hiring and development of Emiratis. It aims to support the national industry and redirect expenditure on procuring goods and services into the national economy.
Information to Suppliers:
As part of the ICV program, the Companies are required to submit the ICV certificates and will be evaluated based on the ICV score achieved and are then given an access to participating entities procurements during the contract awarding process.
ICV certificate is required to be certified by one of the certifying bodies.
Crowe being one of the approved ICV certifying body is proud to work with the Ministry of Industry and Advanced Technology in the successful implementation of this National In-Country Value Program.
Guidance for Suppliers:
As Entities are gearing up for implementing the ICV program in their respective organizations, we have prepared FAQs for the benefit of the management in order to assist them in smooth implementation of the ICV program.
Ministry of Industry and Advanced Technology 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.
ICV Certificate template and guidance can be found in the below link:
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