Evas International is a leading Certifying Body of the National In-Country Value Program. Consult with our dedicated team of specialists to understand, implement and improve your Company’s In-Country Value.
The ICV Program is one of the critical campaigns led by the Ministry of Industry and Advanced Technology (MoIAT) and aims to boost UAE’s economy by localizing critical parts of the supply chain, incentivising local procurement and creating opportunities for Emirati talent in the private sector.
An ICV certificate can be applied for each license held by an entity. The minimum requirements are as under:
- Audited Financial Statements, issued in accordance with IFRS by a Ministry of Economy licensed auditor
- Registration in the Nafis Partner Program, a federal program aimed at empowering Emirati talent to occupy jobs in the private sector.
3 Step Certification Process
Step 1: Fill in the ICV Supplier Template based on the latest Audited Financial Statements
Step 2: Approach one of the authorized Certifying Bodies for evaluation of the score and performance of Agreed Upon Procedures
Step 3: Once the score is approved by MoIAT, you will receive a digital certificate which is valid for 14 months from the date of issue of the Audited Financial Statements
1.What is an ICV certificate?
It is a measure of an entity’s contribution towards the local economy, based on a set of pre-determined criteria. All suppliers intending to compete in tenders with any of the ICV implementing companies must submit their ICV certificate, together with other requisites. The ICV score is factored in by the companies in their tender evaluation process.
2.How is ICV measured?
ICV is measured based on the annual cost of procurement incurred by Companies from other mainland/ICV certified Companies. It also takes into account the total value of fixed assets in the UAE, corresponding depreciation and the annual manpower costs expended on Emiratis and Expats.
3.Is there a minimum ICV score?
No, there is no minimum score. Based on each Company’s business and operation model, the scores may vary even among contemporaries in the same industry. That being said, a supplier can always strategize to improve their ICV score.
4.Can multiple entities apply for a combined ICV?
No, Companies cannot apply for a combined ICV. The only exception is if the company has a branch in the same emirate with identical activities and ownership, in which case the company may apply for a single ICV certificate.
The Evas International Difference
At Evas International, we go the extra mile to ensure our clientele achieve the best possible score in line with the program guidelines. We help clients strategize towards achieving the desired ICV results and demonstrate the long-term benefits of the program. An aspect that is often overlooked is alignment of the Company’s records with the requirements of the ICV program. We focus on ensuring that clients are able to readily retrieve the required data in order to improve the quality of reports relevant to the Supplier Template.