ICV Certification Services: Enhancing In-Country Value (ICV) Compliance in Dubai

The In-Country Value (ICV) program in the UAE is a strategic initiative aimed at strengthening the national economy by promoting local sourcing, increasing GDP contribution, and creating job opportunities for Emiratis. Businesses operating in Dubai must comply with ICV requirements to enhance their competitiveness and secure government contracts. ICV certification services play a vital role in ensuring that companies meet these standards effectively.

Understanding ICV Certification

ICV certification is a structured assessment of a company’s contribution to the UAE economy based on key factors such as local procurement, Emiratization, investments in local businesses, and overall financial performance. The program is spearheaded by ADNOC (Abu Dhabi National Oil Company) and has expanded across various government and semi-government entities in Dubai and the UAE.

The Importance of ICV Compliance in Dubai

Dubai, as a global business hub, attracts companies from different industries, including manufacturing, construction, oil and gas, and services. With ICV certification, businesses can:

• Improve Business Opportunities: ICV-certified companies have a higher chance of securing contracts from government and semi-government entities.

• Enhance Local Contribution: By sourcing from local suppliers and hiring local talent, businesses contribute to economic sustainability.

• Gain a Competitive Advantage: Companies with a strong ICV score are preferred in procurement processes, making them more attractive to potential clients.

How ICV Certification Services Help Businesses

Professional ICV certification services assist businesses in navigating the certification process smoothly. These services typically include:

• ICV Score Calculation & Audit: Assessing financial statements and calculating the company’s ICV score accurately.

• Compliance Advisory: Providing guidance on improving the ICV score through strategic planning and local investments.

• Document Preparation & Submission: Assisting with paperwork, ensuring compliance with ICV program requirements, and liaising with certification authorities.

Steps to Obtain ICV Certification in Dubai

1. Financial Statement Preparation – Companies must provide audited financial statements as the basis for ICV score calculation.

2. Score Calculation – The ICV score is determined based on various factors such as revenue, operating expenses, and local investments.

3. Submission & Verification – The application is submitted to a certified ICV body for review and approval.

4. Certification Issuance – Once approved, the company receives an ICV certificate, which is valid for 14 months.

Conclusion

ICV certification is a crucial requirement for businesses aiming to succeed in Dubai’s competitive market. Partnering with professional ICV certification service providers ensures smooth compliance and maximizes the benefits of the program. By aligning with ICV requirements, businesses not only enhance their market position but also contribute to the UAE’s long-term economic growth.