This ADNOC ICV Certification Services in Dubai and Abu dhabi Programme’s objective was to boost the performance of different industry sectors by increasing the contribution of local industries to the nation’s GDP. Localization strategies for supply chains and new local services and initiatives attract foreign investment in the economy, diversify it, and boost exports, creating lucrative job opportunities in the private sector, which contributes to GDP growth. It also encourages the amount of money spent on R&D and advanced technology. This will boost private companies’ contribution to the nation’s GDP.
In the context of the National ICV Program, suppliers must submit their ADNOC ICV Certification Services in Dubai and Abu dhabi about the financial year prior that evaluating their contributions to the economy local to UAE. Certified suppliers are give preference when it comes to awarding purchases and contracts. They also have a higher chance of being award agreements and acquisitions. ICV scores play a significant factor in securing contracts and assets. The ICV assessment is an integral element of the award and evaluation procedure for the Partners of the Program.
It is important to note that the ICV Certificate must authenticate
Inspire MS Tax Consultancy is the most reputable company in the UAE that offers an in-country value (ICV) Program consultation. The Program’s strategic partners include a collection of government agencies and top semi-national and national corporations across various fields and sectors, including the Program’s pioneers, Abu Dhabi National Oil Company (ADNOC).
Who was the first to initiate The National In-Country Value Program?
The Abu Dhabi National Oil Company (ADNOC) Group launched the in-country value (ICV) certification to meet their goals. Their main goals included Emiratization, Diversification of GDP, and strategic aspects. The following years saw various Government and semi-Government companies join the Program to expand the range and scope of this ICV certification procedure. The result was a unifying ICV program open to Suppliers from diverse sectors in the UAE.
At 2021’s close at the end of 2021, at the end of 2021, the Unified ICV program was rename to The National In-Country Value Program (ICV) by the Ministry of Industry and Advanced Technology (MoIAT).
Here are the main objectives of the Program:
- Development Of New Local Industries And Services Through the Strategic Supply Chain Localisation.
- Diversifying The Economy and increasing exports by encouraging and attracting foreign investment.
- Growing The Number Of Jobs In The Job Market In The Private Sector Offering Job Opportunities of Outstanding Value.
Contribution to National GDP Growth.
How to Find ICV Certificate? ICV Certificate?
Only firms authorized by the MoIAT are allow to verify and issue an ICV Certificate. Professional companies such as Inspire MS Tax Consultancy are know as Certifying Bodies that offer ICV certification within Dubai, Abu Dhabi, and throughout the UAE.
What companies require an ICV Certificate?
Anyone in the UAE can obtain an ICV certificate that aligns with ICV guidelines. In ICV’s National ICV program, any company planning to submit a bid for a semi-government or a government procurement opportunity must be able to show the ICV certificate.
Suppliers who directly provide goods or services to participants of the Program could require to disclose their ICV Score, as it is a part of an evaluation of their bid and the award procedure. Other suppliers could be require to present an ICV Certificate to be competitive when they tender. The ICV factor is a crucial percentage of tender evaluation. It is, however, not an obligation.
What are the main factors when applying for an International ICV Certification?
The MoIAT has outlined various criteria for companies to obtain this certification. It is also possible to seek assistance from ICV certificate service suppliers such as Inspire MS Tax Consultancy.
Read more: ADNOC ICV Certification Services in UAE
