ICV Certification

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What is ICV?

In November 2017 ADNOC introduced an “ In Country Value “ certificate program for its group companies to achieve the objectives of :

  • Emiratization – To create additional employment opportunities & thereby increasing the skills of the local workforce .
  • GDP Growth :
    - By aiding GDP growth through more supply of goods & services within UAE
    - Increasing Foreign direct investment in UAE
    - Improving Private sector , small to medium enterprises’ contribution to GDP.
  • Strategic consideration: Localization of critical functionalities in UAE.

Companies will have an ICV Certificate that is certified by any of the ADNOC approved certifying bodies . However the companies who do not possess an ICV Certificate will be able to participate in government tenders , but for the purposes of bid evaluation their ICV score will be considered as “ (0) zero “ .

Who Needs an ICV Certificate?

ICV Certificate is needed by all those companies who are dealing or intending to deal with any of the following Government , Semi government entities :

  • Abu Dhabi National Oil Company (ADNOC)
  • Abu Dhabi Department of Economic Development (ADDED)
  • Al Dar Properties
  • Abu Dhabi Ports
  • Other government Departments of Abu Dhabi

How long is an ICV Certificate Valid?

The ICV certificate will be valid for a period of 14 months from the date of issuance of audited financial statements.

Required Documents for ICV Certificate?

  • Company’s audited financial statements
  • List of procured goods & services
  • WPS reports

What Are The Areas Considered For The Calculation of ICV?

 

  • Goods manufactured
  • Third party cost
  • Investment in United Arab Emirates
  • Emiratization
  • Expatriate contribution
  • Bonus
    - Revenue from outside UAE
    - Emirati head counts
    - Investment growth

Our Scope Of Work?

  • We can prepare & certify audited financial statements for the company after carrying out the audit procedures.
  • Provide consultancy services pertaining to ICV Certificate. We shall assist the client in filling the application form for submission to the Abu Dhabi Authorities.