ICV Consultation
Unlock Business Opportunities: Harnessing the Power of In-Country Value for Sustainable Growth.
As part of “Projects of the 50”, the UAE government has launched the In-Country Value Program (ICV) on a federal level, which will be implemented under the supervision of the Ministry of Industry & Advanced Technology (MoIAT), contributing to increased demand on local goods and services, promoting local capabilities and attracting foreign direct investment towards the local industrial sector.
The In-Country Value program has witnessed great success since its launch in the emirate of Abu Dhabi in 2018.
Why was the In-Country Value Certificate Program Launched?
ICV Program aims to boost economic performance and support local industries by redirecting higher public spending into the national economy. As per the program, MOiAT will issue In-Country Value certificates to suppliers after evaluating their contribution to the country’s local economy. As a result, ICV-certified suppliers and contractors will get preference when they bid for projects and orders from government and semi-government organizations.
Why JAXA?
Jaxa can assist you in professionally completing the form so that suppliers will get the maximum score. We also will analyze the various information of the company and advice clients to produce full documents to get a better score.
Avail best quality Auditing and Accounting services from JAXA
The expert will help to tackle business issues by following proper Accounting and Auditing guidelines will also assist you to scale up your business. JAXA also provides various other services such as Tax Services, Payroll Services, Cash flow forecasting and many more.
What we provide
● We ensure that all the records are compliant with the International Financial Reporting Standards (IFRS)
● We are registered and approved auditors in major free zones in Dubai, making it easy to conduct audits in the free zone.
● JAXA has over 15 years of experience and a knowledgeable team of 75+ employees.
● Over a decade of quality service has made us one of Dubai’s most preferred auditing and accounting firms.
Process
Issue Audited financial statement
ICV Template
Evaluation
Get ICV
FAQs
What is In-Country Value (ICV)?
In-Country Value (ICV) is an initiative that encourages businesses to contribute to the local economy by prioritizing local sourcing, job creation, technology transfer, and developing local capabilities.
Why is In-Country Value important?
In-Country Value is important because it promotes economic diversification, reduces reliance on imports, creates employment opportunities for locals, fosters technology transfer, and contributes to sustainable economic growth.
Which industries or sectors does In-Country Value apply to?
In-Country Value initiatives are typically implemented in sectors such as oil and gas, construction, manufacturing, infrastructure development, and other industries with significant potential for local economic participation and value creation.
How is In-Country Value measured or assessed?
The measurement and assessment of In-Country Value typically involve evaluating factors such as local spending, employment of nationals, local content, technology transfer, and investments in local suppliers or partners.
What are the benefits of complying with In-Country Value requirements?
Complying with In-Country Value requirements can result in several benefits, including enhanced relationships with local stakeholders, increased access to government contracts, improved reputation, grown local market share, and a positive impact on the country’s overall socioeconomic development.