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The Benefits of In-Country Value (ICV) in the UAE

Did your competitors win another government contract?
What is keeping them ahead of you in this race?
The In-Country Value Certificate is the key to securing more government contracts and gaining a competitive advantage in the corporate business race.
The National In-Country Value program was started in the UAE in 2018. This program was launched to incentivize businesses to hire more Emiratis, source material within the UAE, and invest in the nation’s infrastructure and technological development.
The ICV program promotes sustainable economic growth in the UAE, improving the country’s infrastructure and technology, making the economy diverse, and reducing the country’s dependency on the oil and gas industry.
This article will explain some of the benefits of getting an ICV certificate.

Business Growth and Competitive Advantage

A significant advantage for businesses that get an ICV certificate is that they can enjoy business growth in multiple folds. Wondering how?

Businesses with ICV certification can apply for government tenders and projects. ICV certification increases the chances of winning tenders because many governments and big private companies prefer working with businesses that contribute to the local economy.
Companies with a high ICV score get a competitive advantage when they bid on government contracts, making it easier for them to secure important projects, encouraging them to hire more local employees, buy from local suppliers, and invest in the country’s economy.
Another big benefit is more partnership opportunities. Many businesses seek ICV-certified companies to work with because it improves their ICV score. This creates better networking, collaboration, and more business growth. Being ICV-certified makes a company more attractive to potential partners and clients, helping it expand and succeed in the UAE market.

Revenue Growth and Market Expansion

Revenue growth is an advantage in sustaining business growth. When ICV-certified businesses have a greater chance of securing government projects and win a large-scale project, they enjoy a significant revenue boost.
Being an ICV-certified business also attracts international investors, who prefer working with companies that are aligned with the UAE’s economic goals, and creating opportunities for cross-border partnerships.

Strengthening the Local Economy

The ICV certificate strengthens the country’s local economy. Did you know that the higher a company’s ICV score, the higher its chances of securing large-scale government projects?
To get a higher ICV score, companies are encouraged to create more job opportunities for the locals and hire more Emiratis. This allows them to work in the private sector and gain the necessary training.

Supply Chain Localization & Cost Efficiency

A key feature of the ICV certificate is that it encourages businesses to source material locally. This ensures that money moves within the economy, reduces reliance on imports, and makes the UAE economy more self-sufficient.
This strengthens the economy, makes the country less dependent on global market fluctuations, and creates a more stable and sustainable business environment in the long run.

Support for SMEs & Local Businesses

ICV certification helps small and medium enterprises grow by giving them access to government projects and large contracts. To support economic growth and stability, the UAE government prioritizes working with ICV-certified local businesses, keeping money within the country.

Additionally, ICV-certified businesses get a good score when working with local companies. This allows domestic businesses to secure more work and earn more revenue. If the domestic business is also ICV certified, it becomes a plus for both companies as it helps increase their In-Country Value score.

Job Creation & Emiratization

ICV certification encourages companies to hire more Emiratis and create job opportunities and support the career growth of the UAE nationals. It promotes skills development and training programs, helping employees gain valuable experience and entities get high ICV score.

Innovation & Technology Transfer

The next advantage that National In-Country Value program offers to its people is of creating a highly skilled and professional workforce.Confused?
To improve their ICV score companies are required to invest in the research and development of the country’s infrastructure and work on making the country innovative and technologically strong.
When people hire more Emiratis, they train them to work with high-tech machinery, cultivating a professional and skilled workforce. This continuous work on improving the skill set of the workforce and the country’s technological capabilities, makes the UAE a hub for innovation and sustainable growth.

Financial & Investment Benefits

If you are looking to grow your business financially, ICV certification can help your businesse get support from the government and better loan options from banks. Many investors also trust ICV-certified companies more, making it easier to attract funding and expand in the long run. Banks and financial institutions may offer better credit terms, and businesses can access government-backed financial programs that support growth and stability.

Compliance & Regulatory Alignment

Following government policies is the key to running a smooth business when it comes to working in the UAE market. ICV certification helps companies make sure that they follow national regulations set by the government. This reduces the risk of companies having to face any kinds of penalties and legal issues and promotes transparency and strong corporate governance, making businesses reliable and trustworthy.

Sustainability & Economic Diversification

The ICV certification is not just supporting the economy and creating more job opportunities for the emiratis but also improving the nation technologically. The country has become more technically advanced by shifting towards digital transformation.
It is working on automating its operations and using artificial intelligence to improve work performance and boost company productivity. These technological advancements position the UAE as a global leader in smart industries.

Technological Advancement & Digital Transformation

Did you know that one of the UAE’s ultimate goals is to have a stable economy that is self-reliant and not dependent on oil or gas?
The ICV certificate UAE motivates its people to play their role in the national growth of the country’s economy by investing in various sectors like, manufacturing, technology, healthcare, education, etc. Expanding into these diverse sectors, businesses help reduce the country’s dependence on oil-based revenue while creating a stronger and more balanced economy.

Corporate Social Responsibility (CSR) Enhancement

While the apparent advantages of getting an ICV certification seem to be creating jobs, improving infrastructure, and supporting small businesses, there are some benefits that are not highlighted enough, and one of these is the active role being played in corporate social responsibility.
Companies are encouraged to invest more often in community projects, education, and local initiatives which contribute to the UAE’s social and economic well-being. By actively working in corporate social responsibility, companies can uplift their reputation and build trust with customers and stakeholders.

Increased Foreign Direct Investment

ICV certification is putting UAE businesses on the global map for foreign direct investment. It rewards companies that support local businesses by giving them priority in government projects, easier access to loans, and other benefits.
These advantages make UAE companies more attractive to foreign investors and encourage international businesses to establish themselves in the UAE market. As a result, investment is growing, the economy is getting stronger, and the country is becoming less dependent on any single sector.

Stronger Public-Private Partnerships

An indirect benefit of the ICV certificate is that it strengthens public-private partnerships. When private companies get an ICV certificate, it shows that they want to work with the government. In return for getting the certification, the government prioritizes the companies with high ICV scores when it comes to giving away tenders.
This way, the private sector gets a boost in its business, and the government achieves its economic goals better. With the passage of time and frequent partnerships, trust is built between the two sectors, which creates a strong and stable business environment in the country.

Export Market Development & Global Competitiveness

National In-Country Value program help businesses grow substantially, as the companies get to work on large-scale projects and get easy access to bank loans to grow their business. This brings the businesses into the spotlight when international businesses are looking to invest or purchase from them, generating an export market worldwide.
Indirectly, ICV certification improves the businesses’ performance, enhances the product quality so they can compete internationally, and ultimately enjoy export market benefits.

Role of the ICV Auditor

The ICV auditors are the most integral part of the entire ICV certification process. These ICV consulting firms like Adepts, ensure that the company follows the guidelines and standards set by the ministry when securing the ICV certificate.

The auditors carefully check all the details, ensuring the companies’ contribution to the economy. If the companies are falling behind in any manner, Consulting firms like Adpets offer their expertise and provide detailed guidance on how to improve ICV scores, rank better when bidding for tenders, and achieve transparency and credibility in the certification process.

Conclusion

In-country value certificates offer companies many benefits, directly and indirectly. They can enjoy easy access to bank loans and opportunities to work on large-scale projects with the government, boost their businesses, get international recognition, and attract foreign investments. An ICV certificate is a great win-win situation for both the government and the businesses working in the UAE.
Companies need to look into ICV certification and easy ways to get higher scores in order to enjoy higher sales, greater revenues, substantial business expansions, better international working opportunities, export facilitation, and prioritization in getting government tenders.
Companies that want to get an ICV certificate are recommended to hire more emiratis, procure their raw materials and other sources from inside the UAE, train nationals in acquiring skills, invest in the country’s infrastructure, and collaborate more with businesses holding ICV certification.

To ensure compliance with the government’s rules and regulations and enjoy higher ICV scores, companies should consult ICV advisory firms like Adepts and make things easier for themselves.

FAQs

No, most Free Zones allow remote registration. However, a visit to Dubai may be required for specific processes like opening a corporate bank account or obtaining residency visas.
No, Free Zone businesses cannot trade directly in the UAE mainland. They must work with a local distributor or establish a mainland branch to do so.

Setting up a business in the Free zone depends on a lot of factors, such as business activity and office space. Typical expenses include:

  • Business license and registration fees
  • Office lease (flexi-desk, shared, or physical)
  • Visa and immigration costs
  • Corporate bank account setup fees

Businesses must meet banking requirements, including:

  • Choosing a bank based on business needs
  • Submitting required documents (trade license, passports, proof of business)
  • Attending a bank meeting (some require physical presence)
  • Awaiting approval, which can take a few days to a week

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How to Improve ICV Score In UAE, Dubai | Adepts

How to Improve ICV Score In UAE, Dubai | Adepts

Effective Strategies to Improve Your ICV Score in the UAE https://youtu.be/XKXCN2qJUqY?si=y5CJ9TDXaFZ2WNik If you and your competitor have an ICV certificate, why did they get the tender and not you? There may be multiple other reasons, but one main reason is a higher ICV score. Yes, the higher your ICV score, the bigger the competitive advantage […]

How to apply for an ICV certificate in Dubai, UAE

How to apply for an ICV certificate in Dubai, UAE

Applying for an ICV certificate in Dubai and the UAE is a straightforward process involving four simple steps.

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