The Role of an ICV Consultant in UAE’s Economic Vision

The Role of an ICV Consultant in UAE’s Economic Vision

As the United Arab Emirates continues to diversify its economy and promote sustainable development, the In-Country Value (ICV) program has emerged as a critical pillar in shaping national economic policy. Launched by the Abu Dhabi National Oil Company (ADNOC) and now adopted by various government and semi-government entities, the ICV program is designed to strengthen the UAE’s economy by prioritizing local content, Emiratization, and GDP retention. At the heart of this transformation is the ICV Consultant, a key advisor who helps companies align with these national objectives.

Understanding the ICV Program

The ICV program evaluates companies on their contribution to the local economy through a structured scoring system. Factors include:

• Goods and services sourced locally

   

• Investment in local infrastructure

   

• Employment and development of UAE nationals

   

• Revenue retained within the UAE

   

A higher ICV score can significantly improve a company’s chances of winning government contracts, especially in sectors like oil & gas, construction, and manufacturing.

What Does an ICV Consultant Do?

An ICV Consultant serves as a strategic partner for businesses aiming to enhance their ICV scores. Their responsibilities typically include:

1. ICV Certificate Preparation and Submission
   Consultants assist companies in preparing accurate ICV documentation in line with guidelines issued by ADNOC and other authorities.

    

2. Gap Analysis and Advisory
   They analyze current business operations to identify areas of improvement that can positively impact the ICV score.

    

3. Strategic Planning
   ICV consultants help companies develop long-term strategies to localize procurement, increase Emiratization, and reinvest profits in the UAE.

    

4. Training and Compliance
   Keeping clients updated on regulation changes and training internal teams to maintain ICV compliance are critical parts of the role.

    

Why Are ICV Consultants Important?

The UAE’s economic vision, particularly in Abu Dhabi’s Economic Vision 2030 and the broader UAE Centennial 2071 plan, revolves around reducing oil dependency and boosting local industry. The ICV consultant plays a direct role in realizing these goals by:

• Accelerating local economic participation

   

• Creating jobs for Emiratis

   

• Encouraging local investment

   

• Promoting sustainable, compliant growth for companies

   

In short, the ICV Consultant is not just a compliance advisor—they are a catalyst for economic transformation.

Conclusion

As the UAE continues its journey toward economic diversification and sustainability, the role of the ICV Consultant is becoming increasingly vital. By helping businesses navigate the complexities of the ICV program and aligning them with national priorities, these professionals are making a measurable impact on the country’s economic future.