ADNOC ICV certification Agencies: ADNOC introduced the ICV certification program in April 2018 within the UAE. The In-Country Value addition initiative will help the UAE diversify its GDP and ensure better local production. As a result, several ICV certification bodies in UAE now offer their services to suppliers to ensure they can take part in ADNOC group tenders. 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 ICV certificate validity in UAE.

ADNOC ICV certification Agencies

What all become a part of ICV calculations?

The following criteria are a part of ICV calculations in the UAE;

  1. Firstly, it is Goods Manufactured by suppliers
  2. Third-Party Spend by suppliers
  3. Investment
  4. Emiratization
  5. Contributions by Expatriates
  6. Revenue from outside UAE
  7. Emirati Headcount

Why do suppliers & vendors need the help of ADNOC ICV certification Agencies?

While suppliers without an ICV Certificate can still participate in ADNOC’s Group tenders, their ICV score will be zero. Hence, their overall appeal will be lesser than companies that have a valid ICV core, leading to them losing out on offers and deals. As a result, companies should contact an ADNOC 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.

  1. The In-Country Value program helps create more employment opportunities for Emiratis within the private sector
  2. Helps in aiding the GDP Diversification of the UAE
  3. Localizing critical parts of the value chain is a strategic business decision

ADNOC ICV Certification Agencies-For enquiries, call +971 45 570 204 / E-mail: support@kgrnaudit.com