How to Fulfill UAE’s In-Country Value Requirements with ICV Audit Services

In the UAE, economic diversification and local value creation are strategic national priorities. To support these goals, the In-Country Value (ICV) program was introduced to encourage companies to enhance their contributions to the local economy. Whether you’re a supplier, manufacturer, or service provider, understanding how to align your operations with ICV requirements is essential for participating in government and semi-government tenders.

A vital part of this process is obtaining a valid ICV certificate, and that’s where ICV audit services come into play.

What is the In-Country Value (ICV) Program?

The ICV program, launched by ADNOC and now adopted by various government entities, aims to:

• Boost Emiratization (employing UAE nationals)

   

• Increase local supplier participation

   

• Support local manufacturing and sourcing

   

• Enhance GDP diversification

   

Businesses operating in the UAE are assessed based on their economic value addition within the country, which is quantified through the ICV certificate.

Why is the ICV Certificate Important?

Holding a valid ICV certificate gives your business a competitive advantage in government-related contracts and procurement. It reflects your commitment to supporting the UAE’s economic goals and can increase your chances of winning tenders in both the public and private sectors.

What Are ICV Audit Services?

ICV audit services are professional auditing solutions provided by MOIAT-approved certifying bodies. These services include a comprehensive evaluation of your company’s financial statements and operational data to determine your ICV score.

The ICV audit assesses several key components, including:

• Emiratization rates

   

• Investment in UAE-based assets

   

• Use of local suppliers

   

• Revenue generated within the UAE

   

• R&D expenditure and training of UAE nationals

   

How ICV Audit Services Help Fulfill ICV Requirements

Here’s how ICV audit services streamline the process:

1. Accurate Financial Assessment

Certified ICV auditors review your financials to ensure they align with the ICV formula. Their expertise helps identify areas where your business can improve its local contribution.

2. Compliance Assurance

Audit services ensure your ICV submission is compliant with the latest MOIAT guidelines, reducing the risk of rejection or revision.

3. Improved ICV Score

Professionals can suggest strategic improvements—such as increasing local procurement or hiring more UAE nationals—that directly enhance your ICV rating.

4. Smooth Certificate Issuance

Auditors facilitate a faster and more efficient certification process, allowing your business to remain competitive in bidding processes.

Steps to Fulfill ICV Requirements with Audit Services

1. Prepare Your Financial Statements – Ensure they are audited by a licensed auditor in the UAE.

    

2. Engage a MOIAT-Certified Auditor – Only approved bodies can issue ICV certificates.

    

3. Submit Required Documents – Including your audited financials, workforce data, supplier spend, and more.

    

4. Participate in the Audit Process – Respond to queries and provide any additional information.

    

5. Receive Your ICV Certificate – Valid for 14 months from the audited financial year.

Final Thoughts

Meeting the UAE’s ICV requirements is more than a compliance task—it’s a strategic move that can open new business opportunities and strengthen your presence in the local market. By partnering with expert ICV audit services, companies can ensure accuracy, compliance, and a competitive edge in the UAE’s evolving economic landscape.