ICV Certificate– (In Country Value) in Dubai, Abu Dhabi, Sharjah & UAE.
During 2017, Abu Dhabi National Oil Company (“ADNOC”) launched an In-Country Value (ICV) program to provide boost to the country’s economy by supporting local businesses. Now during 2019-2020, ADNOC, Aldar, Economic Department, Abu Dhabi Ports suppliers will have ICV Certificates given by an ADNOC, Aldar, Economic Department, Abu Dhabi Ports empaneled Certifying Body. Suppliers who don’t possess ICV Certification will be allowed to participate in ADNOC, Aldar, Economic Department, Abu Dhabi Ports Group tenders; however, their ICV Score will be considered as “Zero(0)” in the bid evaluation. An ICV certification needs to be obtained for each legal entity, which intends to participate in tender with ADNOC, Aldar,
Economic Department, Abu Dhabi Ports or any of its group entities. ICV Certification will be readied based on last audited budget statements, which will not be older than 2 years from the certification year. ICV certification shall be valid for 18 months from the date of the initial issue or once a new set of financial statements are issued (whichever is earlier). The supplier shall be responsible to have the revised ICV certificate within 2 months of the issuance of audited financial statements.
Company PJSC (“ADPC”) joined hands to broaden the ICV certification process for suppliers across various sectors in Abu Dhabi and the UAE and therefore the ICV program has been renamed as Unified In-Country Value (“ICV”) program, where the ICV score will be used by all PEs based on their own tender processing guidelines.
The objectives of this program are:
- Emiratization: creating additional employment opportunities for Emiratis in the private sector;
- GDP Diversification: supporting UAE GDP diversification through sourcing more Goods and Services within the UAE; and
- Strategic Considerations: localizing strategically critical parts of the value chain for selected categories.
The ICV program is a progressive initiative and supports the move towards growth, development and diversification in the UAE. Nathan Consulting UAE is delighted and committed to be working together with the ICV Committee set up by PEs to implement the ICV program and serving the suppliers for their ICV Certification requests. Please contact our ICV team at email@example.com to know more about the program and how we can assist you.
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