Organizations that focus on adopting new trends and technologies tend to have financial stability, which helps them to gain yield and global recognition. A professional team of Books Managers is seeking day-to-day contributions to our industries and society. We bring experts and top economists to one platform. Our team has professional experience in accomplishing and guaranteeing our commitments.

We believe in offering top-quality services to your complete business requirements. As a hub of specialist accounting firms in the UAE, we bring value to your operations and financial stability. We make sure that all your ICV certification process is done with transparency and competency.

In-Country Value (ICV) in dubai

 

What does the National In-country value program:

The ICV( IN-COUNTRY VALUE ) program was initiated by Abu Dhabi National Oil Company(ADNOC) while focusing on Emiratization, variegation in GDP, and economic strategies. Since 2018 many companies have done ICV( IN-COUNTRY VALUE ) certifications for suppliers across all Abu Dhabi and UAE sectors.

After Covid-19 at the end of 2021, the Ministry of Industry and Advanced Technology introduced it as a National In-country Value Program. This ICV Program includes all local investments, production, services, cash flow, and development in the UAE.

The essential purpose of this program is to support homeland industry and investments while benefiting the national economy.

Suppliers facts:

During the contractual processing, companies are required to submit an ICV certification to participate in the procurement process. This will be measured according to the In-country value program scoring they achieved, and it will be further evaluated.

 

Instructions for Suppliers:

Different organizations are looking for many ways to start implementing the ICV program for their individual sectors. We are here for you if you are looking for proper assistance. We will be there to guide you thoroughly on the National In-Country Value program implementation, which will be proper and beneficial for both your organization and the economy.

Key Aspects of In-Country Value (ICV) Certificate

  • ADNOC recommend their suppliers to get their ICV certifications from approved ADNOC. Although noncertificate suppliers can also applied for group tenders their ICV score will consider as zero.
  • ICV certificate can only be prepared on the basis of the audit report of the last financial year. But the report should not be older than 2 years.
  • The validity period of the ICV certificate is up to 18 months from the date of the issue or from the date of new financial statements.
  • Suppliers are required to get their revised ICV certificate within two months after the issuance of new audited financial statements.
  • ICV certificate has become almost necessary for each business entity, which intends to participate in tender with ADNOC or with any related party.

Books Managers can assist you to align the Company’s records with the requirements of the ICV Program certification. Make sure that supplier wise procurement, recording of payroll, investments etc. is ready retrieval from the system to generate ICV Supplier Template.