Increasing Local Power and ICV’s Contribution to the UAE’s Economic Vision

As the UAE forges ahead with its ambitious economic transformation, one policy has become central to its national development strategy — the In-Country Value (ICV) Certificate. Designed to boost local industry, increase Emiratization, and promote economic diversification, the ICV program is more than just a compliance measure; it’s a powerful tool driving sustainable growth across the Emirates, especially in economic hubs like Dubai.

What Is the ICV Certificate?

The ICV Certificate in Dubai and across the UAE is a government initiative launched under the UAE’s National In-Country Value Program. It measures a company’s contribution to the local economy based on several criteria, including:

• Goods and services sourced locally

   

• Investments made within the UAE

   

• Emirati workforce employment

   

• Revenue retained within the country

   

Companies with a high ICV score gain a competitive advantage in bidding for government and semi-government contracts, making the certificate a strategic asset for businesses operating in sectors like oil & gas, construction, manufacturing, and more.

Empowering Local Industry

Dubai, as a major business and industrial center, has seen a significant shift since the introduction of the ICV program. More businesses are now looking inward—partnering with local suppliers, hiring UAE nationals, and reinvesting profits within the country. This has led to a strengthening of domestic supply chains and a noticeable boost in job creation for Emiratis.

The ICV certificate in Dubai has become particularly relevant as the city continues to attract foreign direct investment. With international companies setting up operations, aligning with ICV policies is essential to participate in major public sector projects.

Driving Economic Vision 2030

The ICV initiative is closely aligned with the UAE Vision 2030 — a roadmap to build a diversified, knowledge-based economy. By emphasizing local value creation, the ICV framework reduces dependence on imports, encourages industrial growth, and ensures that a greater share of economic activity remains within the UAE.

It also helps prepare the workforce for the future. With Emiratization being a key pillar of the ICV criteria, companies are incentivized to train and employ UAE nationals, contributing to a more skilled and resilient labor market.

Opportunities and Challenges for Businesses

While the benefits of obtaining an ICV certificate in Dubai are clear, companies must also navigate its complexities. Accurate financial reporting, strategic local partnerships, and compliance with changing regulations require careful planning. However, those that succeed gain access to a growing pipeline of government projects and greater market credibility.

Conclusion

The ICV Certificate is more than just a regulatory requirement — it is a reflection of a company’s commitment to the UAE’s long-term vision. In a rapidly evolving economic landscape, businesses that embrace ICV principles are not only supporting national growth but also unlocking new opportunities for sustainable success in Dubai and beyond.