Grow your business with an ICV certification in UAE

It is challenging to enter the field of the UAE’s ICV program, given only a very few companies in the UAE are ICV certifying bodies, ZCAA is one of them.

What is it?

The National In-Country Value (ICV) Program is a UAE government initiative aimed at generating economic benefits by redirecting government procurement expenditures and those of leading national companies back into the UAE economy through the industrial and services sectors. It encompasses the total amount spent within the country on manufacturing, local products and services, and other national investments. MoiAT

It is implemented under the supervision of the Ministry of Industry and Advanced Technology (MoIAT). UAE Government

Key Objectives

The program aims to:

Achieve strategic localization of supply chains and develop new local industries and services
Stimulate and attract investments, diversify the economy, and increase GDP and exports
Create job opportunities for Emiratis in the private sector MoiAT

Who Needs It?

All companies and their subsidiaries that provide supplies to government-owned companies like ADNOC must obtain the national In-Country Value certificate. This requirement also applies to any company that wants to bid for UAE government contracts and tenders, whether in transportation, construction, manufacturing, retail, or healthcare.

In-Country Value certification is required across the entire UAE, including Dubai.

How is the Score Calculated?

A company’s In-Country value score is calculated based on key factors such as the proportion of goods and services purchased from within the UAE, the employment of Emirati nationals, procurement from local suppliers, and domestic investments.

Suppliers are also eligible for a bonus of up to 5%, computed based on components such as eligible revenue from outside the UAE, Emirati headcount, and investment growth. There is no minimum score required to obtain the ICV certificate.

Legal & Compliance Requirements

It is mandatory to have audited financial statements prepared under IFRS (International Financial Reporting Standards), and the audit report must be signed by an auditor approved by the Ministry of Economy, UAE.

In Abu Dhabi specifically, the In-Country value factor accounts for 40% of the financial evaluation in government and semi-government tenders. If a company does not submit an ICV certificate, their score is counted as zero.

How can it grow your business?

The UAE’s National ICV Program gives companies a strong opportunity to grow by improving their position in competitive tendering and procurement processes.

Businesses with higher ICV scores often gain an advantage when major participating entities evaluate suppliers, which can lead to access to larger projects, long term contracts, and stronger commercial relationships.Companies such as ADNOC and other government linked organizations actively consider ICV performance during supplier assessments, making the program an important factor in business development across many industries.

The program also encourages companies to strengthen their presence within the UAE economy.

Businesses can improve their ICV score by increasing local procurement, hiring and developing Emirati talent, investing in local manufacturing and operations, and supporting UAE based suppliers. These actions do more than improve certification results.

They help companies build stronger operational foundations, create more reliable local partnerships, and increase credibility within the market.

As companies continue to align with the goals of the National ICV Program, they often place themselves in a better position for sustainable growth. A strong ICV profile can open doors to new business opportunities, increase trust with clients and stakeholders, and help companies establish a stronger reputation in the UAE’s evolving economic landscape.

Recent Growth

The program reached AED 67 billion in local spending by end of 2023, with a growth rate of 26%, and the number of Emiratis employed in ICV-certified companies reached approximately 19,000 by mid-2024 — a 40% increase year-on-year. MoiAT

In short, the In-Country value is a critical compliance and competitive requirement for any business operating in or supplying to the UAE public sector.

Why partake in the ICV program with Zayed Chartered Accountants?

As one of the UAE’s few officially approved ICV certifying bodies, we help businesses navigate the certification process efficiently while ensuring full compliance with the latest National ICV Program requirements.

Being a locally established firm, we understand the UAE market, procurement landscape, and regulatory framework, allowing us to provide practical guidance that helps businesses strengthen their ICV position and improve tender competitiveness.

Frequently Asked Questions (FAQ):

1. Is an ICV certificate legally mandatory in the UAE?
No, it is not legally mandatory for all businesses. However, companies bidding for contracts with entities such as ADNOC and other participating organizations often need it to remain competitive in tender evaluations.

2. Can companies use consolidated financial statements for ICV certification?
Usually no. The certificate is generally issued based on standalone audited financial statements for each UAE legal entity to reflect its individual economic contribution.

3. What happens if incorrect ICV information is submitted?
Providing inaccurate data may lead to certificate rejection, tender disqualification, or suspension. Authorities can request supporting documents such as audited financials, payroll records, and supplier invoices for verification.

4. Who to contact to get my business’s ICV prepared?

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