The ICV Certificate: Your Guide to In-Country Value in UAE

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The Abu Dhabi government, with its ambitious vision for economic diversification and self-sufficiency, has implemented the In-Country Value (ICV) program. This program incentivizes companies to source goods, services, and talent locally, fostering growth within the UAE. For businesses operating or seeking to operate in Abu Dhabi, understanding the ICV certificate and its importance is crucial. This blog post delves into the ICV program, explores the significance of the ICV certificate Abu Dhabi, and highlights how ZS Consultants can be your trusted partner in navigating the ICV landscape.

Table of Contents

Understanding the ICV Program: Boosting National Growth

Launched in 2018, the ICV program aims to:

Increase Local Investment: Encourage companies to invest in UAE-based businesses and resources.
Develop Local Capabilities: Promote the development of skilled local talent and industries within the UAE.
Diversify the Economy: Reduce reliance on oil and gas exports and create a more sustainable economic future.

The ICV Certificate: A Key to Business Opportunities

The ICV certificate is a document issued by the Abu Dhabi Department of Economic Development (ADDED) that measures a company’s commitment to ICV principles. This certificate plays a significant role in securing business opportunities in Abu Dhabi:

Enhanced Tender Competitiveness: Companies with a higher ICV rating have a significant advantage when bidding for government contracts and tenders.
Unlocking Investment Opportunities: A strong ICV certificate can attract potential investors seeking to partner with companies aligned with the UAE’s economic goals.
Demonstrating Social Responsibility: Possessing an ICV certificate showcases a company’s commitment to supporting local businesses and talent, enhancing its reputation within the Abu Dhabi community.

The ICV Calculation Process: Understanding Your Score

The ICV score is calculated based on various factors, including:

Local Value of Goods: The percentage of goods procured from UAE-based suppliers.
Local Value of Services: The percentage of services sourced from UAE-based companies.
Local Employment: The percentage of the workforce comprised of UAE nationals.

The Role of ZS Consultants in Your ICV Journey

ZS Consultants, a leading firm of chartered accountants and consultants in Abu Dhabi, can be your trusted advisor on all matters related to the ICV program:

ICV Assessment and Gap Analysis: We can assess your current ICV standing and identify areas for improvement.
Developing an ICV Strategy: Our team will work with you to create a customized strategy to enhance your ICV score.
Supplier Sourcing and Localization: We can assist you in finding qualified and reliable UAE-based suppliers.
ICV Certification Support: We can guide you through the ICV certification application process and ensure compliance with regulations.

Embrace ICV, Embrace Growth

The ICV program offers a win-win situation for companies and the UAE government. By prioritizing ICV principles, businesses can gain a competitive edge, secure lucrative contracts, and demonstrate their commitment to the nation’s economic growth.

Contact ZS Consultants Today

Don’t navigate the ICV landscape alone. Contact ZS Consultants today for a free consultation. Our team of experts will provide valuable guidance, develop an effective ICV strategy, and help you obtain the ICV certificate that unlocks a world of business opportunities in Abu Dhabi. Partner with ZS Consultants and unlock your full potential within the thriving Abu Dhabi market!

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