Unified ICV Certification
All legal entities require an ICV certificate to participate in tenders of over 60 entities of the federal government, ADNOC, Aldar, Etihad Rails, Abu Dhabi ports, Etisalat, Mubadala, and the Emirates Nuclear Energy Corporation.
The Unified In-Country Value (ICV) programme for Abu Dhabi National Oil Company (ADNOC), the Abu Dhabi Department of Economic Development (ADED), Aldar Properties and Abu Dhabi Ports was implemented with three key objectives:
> Improve employment opportunities for Emiratis in the private sector.
> Facilitate GDP diversification
> Localize critical parts of the supply chain.
The Unified In-Country Value (ICV) programme for Abu Dhabi National Oil Company (ADNOC), the Abu Dhabi Department of Economic Development (ADED), Aldar Properties and Abu Dhabi Ports was implemented with three key objectives:
> Improve employment opportunities for Emiratis in the private sector.
> Facilitate GDP diversification
> Localize critical parts of the supply chain.
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Frequently Asked Questions
What is ICV Certificate?
The ICV certificate is a measure of the company’s economic contribution to the country based on a set of criteria.
What are the requirements for getting an ICV certificate?
- The audited financial statements of the company, in accordance with IFRS, by an auditor licensed by the Ministry of Economy.
- Companies that are newly established (less than ten months old) and do not have audited financial statements can use their management accounts for a period of up to ten months for ICV calculations.
What is the process for getting ICV Certificate?
Step 1: Fill in the ICV “Supplier Submission Template” Rev 3.0, on the basis of the latest audited financial statements
Step 2: Engage an empanelled certification body to carry out the necessary Agreed Upon Procedures
Step 3: The ICV Committee’s final approval and issuance of the ICV certificate
How ICV is measured?
The In-Country Value of a company (referred to as the ‘Supplier’) is measured based on the annual cost of procurement made by the supplier from other entities (‘Vendors’) based in the UAE. Also, it considers the value of fixed assets in the UAE, the depreciation associated with them, and annual manpower costs for Emiratis and Expats in the UAE. In addition, a supplier may also qualify for a bonus score if their revenue comes from outside the UAE, their Emirati headcount, and their investment growth each year.
What is the minimum ICV score?
There is no minimum ICV score. Depending on the business model and operations of each company, ICV Score may vary even within the same industry. Although, a supplier can always work towards increasing their ICV score in the future.
What is the cost of an ICV certificate in the UAE?
The fee varies based on the size of the company and the procedures needed.
What is the validity of ICV Certificate?
An ICV certificate is valid for a period of 14 months from the date of issue of the audited financial statements.
Is it possible for a company with multiple branches to get a single ICV certificate?
A separate ICV certificate must be obtained for each industrial/commercial license held by a company. However, if the company has different branches in the same Emirate with identical activities and identical ownership listed on the licenses, then one combined ICV certificate can be taken for the company in that Emirate.
Who needs an ICV Certificate?
ICV certificates are required for companies working directly or indirectly with the following Implementing Agencies as suppliers or subcontractors. The Implementing Agencies for the National ICV Program are gradually increasing in numbers to ensure observing ICV Program across the country.
ADNOC Group Companies
Abu Dhabi Department of Economic Development
Etisalat
Abu Dhabi Ports
Etihad Rail
Sharjah Investment and Development Authority (Shurooq)
Aldar Properties
Mubadala
Emirates Steel
TAQA Group
Edge
Emirates Nuclear Energy Corporation
Emirates Global Aluminum (EGA)
Companies submitting tenders through Musanada (Abu Dhabi General Services Company)
Major Federal and Abu Dhabi Government Entities
What are the disadvantages If a company does not have an ICV certificate?
Vendors of Implementing Agencies without the ICV Certificate are allowed to participate in tenders, however, their ICV score will be considered as “Zero” in the bid evaluation, therefore, they may be at a disadvantage over those holding ICV Certificates.
What are the advantages of ICV Certificate?
All companies intending to submit tenders with the participating entities (e.g ADNOC )are requested to submit their ICV certificate, together with other requisites. As part of their evaluation process, participating entities take the ICV score into consideration and evaluate tenders using the ICV score.
How can a company improve ICV Score?
A company can increase their ICV score by making investments in the UAE, localizing procurement, creating more employment opportunities for both Emiratis and Expatriates.
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We are an emerging ICV certification consultants to assist our clients in obtaining ICV certificates, ICV improvement plan, and meeting their required level of score, as per the guidelines.
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