Insight

In-Country Value Certification

Posted by FinXcel · 5 years ago

Why ICV launched in the UAE?

In-Country Value (ICV) program was introduced for:

Growth in the country’s GDP by enhancing local supplies of goods and services and encourage manufacturing facilities to setup in the country.
Emiritisation in private sector.

National ICV Program

In 2021, the ICV program was take-up by the Ministry of Industry and Advanced Technology (MOIAT) with the intention to spread this program at federal level to implement it across all the Government and Semi-Government departments in UAE.

Implementing Agencies

ADNOC Group Companies
Aldar Properties
Abu Dhabi Ports
Mubadala
Etisalat
Edge
Shurooq
Etihad Rail
Emirates Nuclear Energy Corporation
Cyber Security Council

How we stand out as an Expert ICV Consultant

Right from the implementation of the ICV Program by ADNOC in March 2018, our partners and staff have gained experience in massive number of ICV engagements from Big Four, Top ten and leading regional Accounting Firms, hence we are an expert ICV Consultants with requisite knowledge and confidence to deal with any requirement of our clients with respect to arrangement of ICV Certificates, drafting of ICV Improvement Plan and implementation of ICV Program.

We are well aware of the updated ICV Guidelines issued by the Ministry of Industry and Advanced Technology (MOIAT) and have in-depth cognizance of parameters that have an impact on ICV Score.

In addition to our expert ICV knowledge and experience, we create an ease for our clients to obtain the ICV Certificate by performing below activities:

We prepare the supplier submission ICV template for our clients whilst ensuring that all the ICV score gaining areas are covered in the template to maximise the ICV score upto the level that our clients are eligible to in accordance with pertinent Guidelines.
To avoid unnecessary delays in gathering and verifying information, we ask for only relevant information that have notable effect on the ICV Score of our clients.
We makeunderstand our clients about the determining factors that affect the ICV score in their particular business case.
We prepare ICV files in a way that ensure seamless approval of our client’s ICV Certificate.by Certifying Bodies.

Insights