The In-Country Value (ICV) program, launched in 2017 by Abu Dhabi National Oil Company (ADNOC), aims to achieve key national goals such as Emiratization, GDP diversification, and strategic development. Over time, the program expanded to include various government and semi-government entities, evolving into the Unified ICV program for suppliers across multiple sectors in the UAE.
In 2021, the program was further transformed into the National In-Country Value (ICV) Program by the Ministry of Industry and Advanced Technology (MoIAT). This initiative seeks to enhance various sectors' performance by increasing the contribution of local industries to the national GDP and promoting local companies. As part of the program, certifying bodies issue ICV certificates to suppliers, evaluating their contributions to the UAE economy. Certified suppliers are given preference in contract awards and procurement processes based on their ICV score.
Key strategic partners of the ICV program include government entities and national companies such as the Abu Dhabi Department of Economic Development (ADDED), ADNOC, and Aldar Properties. Suppliers must declare their ICV achievement annually, based on their previous financial year, certified by an authorized Certifying Body. AARMAK offers comprehensive ICV certification services to help businesses navigate this process effectively.
The National ICV program is designed to stimulate local industries by reducing dependency on imports and supporting initiatives such as financing incentives. The main objectives of the program include:
Authorized by the MoIAT, professional firms (Certifying Bodies) handle the verification and issuance of ICV certificates. AARMAK, as an approved certifying body, offers expert ICV certification services across Dubai and the UAE.
Both UAE-based and foreign companies can apply for ICV certification under the ICV guidelines. While not mandatory, ICV certification is essential for companies participating in government and semi-government tenders, as the ICV score contributes to tender evaluation.
Tier 1 suppliers (direct suppliers to program partners) are often required to declare their ICV score, which plays a key role in the tender award process. Tier 2 suppliers and below are also encouraged to present their ICV certificate to remain competitive.
The ICV score reflects a company's value added to the UAE economy, represented as a percentage. AARMAK can help companies optimize their ICV score based on the following parameters:
To obtain an ICV certificate, companies must meet specific criteria set by the MoIAT. AARMAK can assist businesses in understanding and fulfilling these requirements:
Suppliers are required to submit a supplier submission template (ICV Certificate Sample) as prescribed by the MoIAT. The template must align with the latest audited financial statements. AARMAK’s ICV certification services simplify the template submission process, help businesses understand the factors influencing their ICV score, and ensure financial statements are prepared in accordance with IFRS.
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