Started by ADNOC in 2017, the In-Country Value program or the ICV was launched to achieve key objectives of Emiratization, GDP Diversification and Strategic Considerations
The In-Country Value program consists of two parts - ICV Certification and ICV Implementation.
The ICV Certification part is unified and aligned amongst all ICV participating entities. The unified ICV certificate will be considered by all participating entities. Therefore, Suppliers are only required to obtain one ICV certificate per legal entity that shall be used by all participating entities.
The ICV Implementation will be unique at each entity level. It represents the way each participating entity will use the certificate in its business activities. Accordingly, the ICV certificate will be considered by each participating entity in accordance with its policy.
During an agreed-upon procedures engagement, our team will discuss with you and agree a set of procedures to perform that are based on your requirements
How Can We Help?
Speak to our experts who can guide you in the right direction and help you to stay ahead
Frequently Asked Questions
1. What is ICV Certificate?
ADNOC has introduced an In-Country Value (ICV) program for its suppliers. This procurement-let initiative aims to boost ADNOC’s ICV contribution by focusing on local supplier selection, development of UAE Nationals, and the localization of critical functionalities in the oil & gas industry.
2. How is ICV Score calculated?
ICV Scores are calculated by assessing the economic value add within the UAE for the goods or services offered by the company. The aspects of consideration include Good manufactured within UAE/Third-Party Spends, Investment, Emiratization, Expatriate Contribution and other Bonus likes Exports, Revenue etc.
3. Who issues ICV Certificates?
The In-Country Value certificate is issued by one of the certifying bodies appointed by participating entities - who shall assess, review and validate the ICV scores of suppliers.
4. How to apply for ICV Certificate in UAE?
Contact a trusted certification body that can help you with the entire ICV documentation, process and improvement plan for securing ICV certification.
5. How can KPI help with ICV Certificate in UAE?
KPI can guide you through the process of ICV Certification, bringing more clarity on the process and support with necessary requirements to ensure efficient and accurate ICV certification.
6. What is the validity of the ICV Certificate?
14 months. The ICV Certificate is valid for a period of 14 months from the date of issuance of the audited financial statements.
Still Have Questions? We are ready with answers.