Enhancing Local Economy: The Significance of the In-Country Value (ICV) Certificate in Dubai

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Dubai continues to position itself as a global economic hub, focusing on sustainability, diversification, and self-reliance. A key initiative supporting this vision is the In-Country Value (ICV) Certificate, a program designed to boost local economic contributions by encouraging businesses to invest in the UAE’s industrial and service sectors.

What is the ICV Certificate?

The ICV program, launched by the UAE government and managed by major entities like ADNOC, the Ministry of Industry and Advanced Technology (MoIAT), and other local authorities, evaluates businesses based on their contributions to the local economy. This includes aspects such as local sourcing, Emiratization, capital investments, and revenue retention within the country. Companies with a high ICV score gain a competitive advantage when bidding for government and semi-government contracts.

Key Benefits of the ICV Certificate

1. Strengthening Local Industries
   By encouraging businesses to source materials and services locally, the ICV program helps develop and sustain domestic industries. This leads to reduced dependency on imports and increased manufacturing capabilities within the UAE.

2. Boosting Employment Opportunities
   The program incentivizes companies to hire and train Emirati talent, contributing to the country’s workforce development and long-term economic sustainability.

3. Enhancing Business Competitiveness
   Companies with high ICV scores are prioritized for government and semi-government contracts, creating significant growth opportunities for local and international firms willing to invest in the UAE economy.

4. Supporting Economic Diversification
   The ICV initiative aligns with the UAE’s broader vision of economic diversification beyond oil and gas, fostering growth in industries such as technology, healthcare, and advanced manufacturing.

Who Needs an ICV Certificate?

Businesses operating in the UAE, particularly those involved in government tenders or contracts with major national entities, are encouraged to obtain the ICV certificate. This applies to suppliers, manufacturers, service providers, and investors looking to establish a long-term presence in Dubai.

How to Obtain an ICV Certificate?

The process involves an assessment of financial and operational metrics to determine a company’s local economic contribution. Businesses must work with certified auditors to evaluate their eligibility and obtain the certificate.

Conclusion

The In-Country Value (ICV) Certificate is more than just a regulatory requirement—it’s a strategic initiative driving Dubai’s economic resilience. By prioritizing local investment, talent development, and sustainable growth, the program benefits businesses and contributes to the UAE’s long-term vision of a diversified and self-sufficient economy.

Whether you’re a startup or an established enterprise, obtaining an ICV certificate can position your business for greater success while contributing to the nation’s economic progress.