The In-Country Value program is a procurement-led initiative which was started by ADNOC is 2018. It aims to help boost ADNOC’s ICV contribution by focusing on local supplier selection, the development of UAE Nationals, and the localization of critical functionalities in the oil and gas industry. By late 2019, the program has expanded and has been adopted by different governmental and semi-governmental entities through aligning the certification process.
The ICV program is designed to create deep social and commercial benefits that contribute to sustainable economic growth and development. It will promote GDP diversification, create job opportunities for UAE Nationals in the private-sector, and provide local businesses with more opportunities to participate in business activities with the participating entities. As such, the program stimulates broad-based economic growth, benefiting all relevant stakeholders.
Upon the issuance of IFRS based financial statements that are audited by a licensed auditor from the Ministry of Economy, Suppliers are expected to complete the Certification Submission Template and approach one of the empaneled certifying bodies to obtain their ICV certificates. Suppliers can refer to Supplier Submission guidelines for assistance in completing the submission documents. All related templates and guidelines are available for download from Unified Certification Process page.
The ICV certificate can be issued by any of the empaneled certifying bodies. A list of the same along with their contact details is available here. ICV certificates can only be issued by the empaneled Certifying bodies.
Each ICV certificate is valid for a period of 14 months from the date of issuance of the audited financial statement (Date of signing the Financial statements) or upon the issuance of a new set of financial statements, whichever is earlier.
The In-Country Value program consists of two parts, which are ICV certification and ICV Implementation.
The ICV certification part is unified and aligned between all ICV participating entities. The unified ICV certificate will be considered by all the participating entities. Therefore, Suppliers are only required to issue one ICV certificate per legal entity that shall be used by all participating entities.
The ICV implementation will be unique at each entity level. It represents the way each participating entity will use the certificate in its business activities. Accordingly, the ICV certificate will be considered by each participating entity in accordance with its policy.
All participating entities will use the unified ICV certificate. However, the way each entity uses the certificate in its tendering process is unique at each entity level. For ADNOC’s implementation of the ICV certificate, you can refer to “ADNOC’s ICV program” page on this website.
Yes. A supplier will only be required to issue one ICV certificate per trade license, which can then be used in business transactions with all participating entities according to their own policy of implementation.