The Aim of ICV Certification

The In-Country Value (ICV) Program was introduced to strengthen the UAE economy by encouraging local spending, supporting Emirati employment, and increasing domestic industrial capabilities. The program focuses on creating sustainable economic growth while enhancing opportunities for businesses operating within the UAE.

Emiratization

Creating more employment opportunities for Emirati nationals and encouraging businesses to contribute to the development of local talent within the private sector.

GDP Diversification

Increasing the availability of locally produced goods and services to support economic diversification and reduce dependency on imports.

Strategic Localization

Encouraging critical components of the value chain to be sourced and developed within the UAE, thereby strengthening local industries and strategic sectors.

Why ICV Certification?

ICV Certification plays a significant role in supplier evaluation and procurement processes across government and semi-government entities in the UAE.

Key Benefits of ICV Certification

• Enhances a supplier’s competitiveness during tender evaluations.
• Provides additional weightage during bid assessments.
• Improves opportunities to secure contracts with participating entities.
• Encourages local spending and economic contribution within the UAE.
• Recognizes suppliers whose expenditures contribute positively to the UAE economy.

Entities indirectly associated with tenders can also benefit from the program, as supplier spending retained within the UAE contributes to ICV calculations.

Essential Aspects of ICV Certification

Understanding the requirements of the ICV program is crucial for obtaining and maintaining certification.

Certification Requirements

• ICV Certification is based on the company’s most recent audited IFRS-compliant financial statements.
• Financial statements used for certification should not be older than two years from the certification year.
• Newly established companies operating for less than 10 months may use management accounts for ICV calculations.
• The ICV Certificate remains valid for 14 months from the date of issuance of the audited financial statements.

ICV Score Evaluation

The ICV Score is calculated using a predefined methodology that measures the economic value created within the UAE through the company’s operations, products, and services.

How Can We Assist You in Obtaining an ICV Certificate?

At Accurate Accounting Solutions, we work closely with businesses throughout the certification process and provide comprehensive support to ensure a smooth and successful ICV assessment.

Our Services Include:

• Guidance on ICV eligibility requirements.
• Assistance with ICV calculations and documentation.
• Preparation and review of financial information.
• Recommendations for improving ICV scores.
• Support with certification body coordination.
• Updates regarding the latest ICV policies and program changes.

Our goal is to help businesses maximize their ICV performance while ensuring full compliance with program requirements.

What Exactly Is the ICV Program?

The National In-Country Value (ICV) Program is a UAE government initiative designed to strengthen the national economy by redirecting a greater portion of procurement spending toward local businesses and industries.

Under this program, suppliers are assessed and awarded an ICV Certificate based on their contribution to the UAE economy. Certified suppliers receive competitive advantages during procurement and tender evaluations conducted by participating entities.

The program ultimately supports economic growth, industrial development, and job creation across the UAE.

Who Are the Entities That Participate in the ICV Program?

Several leading government and semi-government organizations actively participate in the National ICV Program.

Participating Entities Include:

• Abu Dhabi Department of Economic Development (ADDED)
• ADNOC
• ALDAR
• Mubadala
• e&
• Emirates Nuclear Energy Corporation (ENEC)
• Etihad Rail
• Sharjah Investment and Development Authority (Shurooq)
• EDGE Group

These entities utilize ICV Certificates as part of their supplier evaluation and procurement processes.

What Are the Benefits of ICV?

The ICV Program provides substantial advantages to both businesses and the UAE economy.

Business Benefits

• Improved competitiveness in tender submissions.
• Greater opportunities to secure contracts.
• Enhanced business credibility and market reputation.
• Better alignment with government procurement requirements.

Economic Benefits

• Increased procurement of locally produced goods and services.
• Growth of domestic industries and supply chains.
• Creation of employment opportunities for Emiratis.
• Strengthening of the UAE’s economic diversification strategy.

What Is the Best Way to Get Suppliers Involved in the Program?

Suppliers can participate in the ICV Program by following a straightforward certification process.

Step 1: Prepare Audited Financial Statements

Financial statements must be prepared according to International Financial Reporting Standards (IFRS). Newly established companies may use management accounts where applicable.

Step 2: Complete the ICV Template

Prepare and submit the official ICV template according to the prescribed guidelines.

Step 3: Select an Approved Certifying Body

Choose an authorized ICV certification body for assessment and verification.

Step 4: Obtain the ICV Certificate

Upon successful evaluation, the supplier receives an official ICV Certificate.

Step 5: Present the Certificate

The certified supplier can then submit the certificate to participating entities when bidding for contracts and tenders.

Who Issues the ICV Certificate?

The Ministry of Industry and Advanced Technology (MoIAT) authorizes approved professional firms, known as ICV Certifying Bodies, to verify company information and issue ICV Certificates.

Accurate Accounting Solutions works closely with approved certification authorities and provides complete assistance throughout the certification process in Abu Dhabi and across the UAE.

What Is an ICV Score?

The ICV Score measures a company’s contribution to the UAE economy and is calculated using a predefined methodology.

Factors Considered in the Calculation

• Local procurement and third-party expenditure
• Investments within the UAE
• Emiratization initiatives
• Expatriate contribution
• Export activities
• Number of Emirati employees
• Growth in investments and business operations

The final score reflects the economic value generated by the company within the UAE.

Validity of the Certificate

An ICV Certificate remains valid for 14 months from the date of issuance based on the audited financial statements used during certification.

During the validity period, suppliers may request recertification using the same audited financial statements where applicable. However, the original 14-month validity period remains unchanged from the initial issuance date.

Is ICV Certification Compulsory in the UAE?

ICV Certification is not mandatory for all businesses operating in the UAE.

However, it is highly recommended—and often essential—for companies that wish to participate in government and semi-government procurement opportunities.

Since the ICV Score contributes significantly to tender evaluation and supplier selection, obtaining certification can provide a substantial competitive advantage when bidding for contracts.