The National In-Country Value Certification Program

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What is the National In-Country Value (ICV) Certification program and the newly introduced unified ICV Program?

The National In-Country Value Program (ICV) aims to enable the Ministry of Industry and Advanced Technology to improve the performance and sustainability of the industrial sector, by increasing the contribution of local industries and supporting local companies and their important role in advancing economic and social development as well as contributing to the growth of the country’s GDP.

The National ICV is a certificate issued to suppliers in which their contribution to the local economy is evaluated. The certified suppliers are then given an advantage during the award of contracts and purchases based on their ICV score.

The ICV program was initially launched by Abu Dhabi National Oil Company (ADNOC) in 2018 with the following objectives in line with UAE vision 2030:

Improvement of the country’s GDP by enhancing local supplies of goods and services
Encouragement of investors to build up manufacturing facilities in the country
Emiratisation in the private sector

The program will encourage companies and factories participating in government tenders to increase their financial contribution in Abu Dhabi through three main components: Emiratization, investment, and locally procured goods and services. 

 Under the unified ICV program, all the ADNOC and Participating Entities vendors must obtain an ICV Certificate that shows the ICV score achieved by a vendor for a financial year. ICV score demonstrates how vendors are helping to achieve the ICV as mentioned earlier objectives. If a vendor does not have an ICV Certificate, their ICV score will be considered (Zero) in the tender evaluation process. So that vendor will be under competitive disadvantage when its bid is compared to its competitors.

Who Needs a Unified ICV Certificate?

Companies supplying directly or indirectly as sub-suppliers to ADNOC and the following Participating Entities are required to submit the unified ICV Certificate with their tenders.

ADNOC
Abu Dhabi Government Entities
Mubadala
Aldar Properties
ENEC
Abu Dhabi Ports

Pre-requisites for ICV Certificate

A company must provide IFRS complied audited financial statements for the last two financial years signed by a partner in an Audit firm registered with the Ministry of Economic
The audited financials should not be older than two years from the certification year. For companies newly established (less than ten months old), the management accounts for up to 9 months from the establishment date can be used for ICV Certification. Any management accounts greater than nine months needs to be audited
Each trade license of a Company is considered an independent legal entity for ICV Certification purposes; even the ownership structure is the same
Company with different branches in the same Emirate with identical activities and ownership can obtain one unified ICV Certificate for submission with tender by any branch of that Company

The ICV evaluation process:

The evaluation will examine your value-added contribution to the UAE in areas including,

Local manufacturing
Procurement of third-party goods and services
Local investment and it is growth
Emiratization of workforce
Expatriate contribution
Generation of income from outside the UAE

The validity of the ICV Certificate

The validity of the ICV certificate is 14 months from the date the Audited Financial Statements are issued. The supplier can get recertified from the same Certifying Body during the ICV certificate’s validity, using the same audited financial statements; however, the validity of 14 months from the first issue will remain the same.

Contact

  • The Galleria, Hyatt Regency Level II, Office No. 218 B, PO Box: 119712, Dubai, UAE
  • +971 04 27 11 952
    +971 52 124 5007
  • info@aeauditing.com