ICV Certification
• In-Country Value Program (ICV) ADNOC launched the In-Country Value Program (ICV) in 2018.
• In order to promote economic growth and diversification in the UAE, the initiative strives to get the most out of the nation's oil and gas resources.
• By implementing a unified In-Country Value (ICV) Program, Rev. 3.0,
What are the ICV’s goals?
Emiratization: Increase the number of jobs available to Emiratis in the private sector
GDP Diversification: More goods and services are obtained from the UAE in an effort to support GDP diversification.
Considering the big picture: localizing a few key value chain nodes for particular company categories.
What makes ICV Certification necessary?
ICV score is a crucial factor in the evaluation of the participating companies’ bids, and it will provide suppliers and vendors who are involved in the award process extra weight.
Companies that are not directly involved with the bids will nevertheless gain from the initiative because ICV certified supplier “spend” that stays domestically or benefits the domestic economy is taken into account when calculating ICV.
Important factors for ICV certification
The last audited IFRS financial statements of the entities are taken into account while calculating ICV, and they should not be more than two years old from the certification year.
If newly established businesses do not have audited financial statements and are less than 10 months old, the management accounts for a period of up to 10 months may be used.
ICV certificates must be valid for 14 months after the date that the audited financial statements were released.
ICV ratings are calculated using a predefined approach that analyzes the economic value added for the company’s products or services domestically.
For the purposes of calculating ICV, the following factors are taken into account:
What is the purpose of ISO?
ISO (International Organization for Standardization) is an independent, non-governmental organization that develops standards to ensure the quality, safety and efficiency of products, services and systems.
ISO 9001, 14001 , 45001 certification can bring many benefits to organizations, including increased customer satisfaction, improved processes, competitive advantage, and international recognition. However, it also requires significant time, resources, and cost
1- Commercial License processes:
- Commercial License renewal
- Commercial License modification (activities, partners, address, name etc.)
- Commercial License cancellation
2- Investor Visa processes
- Entry permits
- Change status
- E-ID cards
- Health insurance
- Residence visa stamping
3- Employment visa processes
- Work permits
- Labor cards and contracts
- Entry permits
- E-ID Cards
- Medical tests
- Health insurance
- Residence visa stamping
4- Residence Visas
- Family visas
- Domestic helpers visas
5- Commercial agency
All\any governmental transactions for clients and customers are dealt within the following departments:
- Ministry of Culture Youth & Community Development
- Ministry of Defense
- Ministry of Interior
- Ministry of Labor
- Judicial Department
- Department of Economy and Development
- Ministry of Finance
- Tourism Authority
- Emirates Identity Authority
- Ministry of Health (SAHA)
- Ministry of Foreign Affairs
- Ministry of Higher Education
- Waste Management Authority
- Chamber of Commerce
- Ministry of Economy
- Food Control Department