National ICV certification Agencies: The UAE Government launched the National In-Country Value Program (ICV) to support the Ministry of Industry and Advanced Technology’s (MoIAT) mandate of improving the productivity and sustainability of the UAE’s industrial sector.
During its implementation, the program considers local manufacturing expenditures, local products and services, investments, Emirati recruiting and training, and job creation. The project promotes manufacturing in the UAE and enables for the reinvestment of spending on goods and services in the national economy.
An ICV certificate sample contains the supplier’s ICV score, along with an explanation regarding how the company helps deliver the required ICV. Let us now take a look at the need for ICV certification and the validity of the ICV certificate validity in UAE.
What all becomes part of ICV calculations?
The following criteria are a part of ICV calculations in the UAE;
- First, it consists of products made by suppliers.
- Third-Party Spend by suppliers
- Investment
- Emiratization
- Contributions by Expatriates
- Revenue from outside UAE
- Emirati Headcount
Why do suppliers & vendors need the help of National ICV certification Agencies?
While suppliers without an ICV Certificate can still participate in tenders, their ICV score will be zero. Hence, their overall appeal will be less than that of companies that have a valid ICV core, leading to them losing out on offers and deals. As a result, companies should contact ICV Certification Agencies in UAE to get certified immediately.
Why does the UAE need ICV certification?
Since 2018, the Department of Economic Development, Aldar Properties and the Abu Dhabi Ports have joined the ICV program. Such inclusions have broadened the scope of the ICV program within the UAE, helping boost local production and manufacturing. Owing to the positive impact it brings to the economy, more entities will join this platform in the future.
- The In-Country Value program helps create more employment opportunities for Emiratis within the private sector
- Helps in aiding the GDP Diversification of the UAE
- Localizing critical parts of the value chain is a strategic business decision
National ICV Certification Agencies: For enquiries, call +971 45 570 204 / E-mail: [email protected]
