The In-Country Value (ICV) Certification program
The In-Country Value (ICV) Certification program, introduced by ADNOC in 2018 and then expanded to other organisations, is an excellent example of how these policies influence and drive activities aimed at strengthening the local economy. This blog emphasises how the complex interaction of the UAE’s economic policies influences the goals, framework, and outcomes of the ICV Certification program.
Long-term goals like *UAE Vision 2030* and *We the UAE Vision 2031* drive the UAE’s economic policies. Through diversification, these systems seek to lower dependence on oil revenue and increase GDP to AED 3 trillion by 2031. The ICV program advances these objectives by encouraging investments in innovation, local sourcing, and Emiratization. The project promotes the more broad objectives of economic self-sufficiency and sustainable development by motivating companies to actively assist the UAE economy.
Diversity away from the country’s dependence on oil is one of the cornerstones of the UAE’s economic strategy. Non-oil industries like technology, financial services, and travel made around 75% of the UAE’s total GDP in 2025. The ICV program encourages companies to operate in regional industries like manufacturing and services, which helps to diversify substantially. Government contracts are given priority to companies with high ICV scores, so guaranteeing that public expenditure directly helps non-oil sector.
As part of its economic plan, the UAE government has given growth of local businesses top priority. The ICV Certification initiative promotes local product and service purchases by companies, hence bolstering domestic supply chains. This localising reduces reliance on imports and helps Emirati businesses to compete more globally. ADNOC and other companies have also included ICV standards to their purchasing procedures to help guarantee that billions of dirhams return to the local economy.
A key component of the UAE’s economic goals is Emiratization, or the effort to raise the number of Emiratis in the labour. By motivating businesses to recruit and train Emiratis, the ICV program directly supports this objective. Since they have better ICV ratings, businesses that give Emiratisation top priority are more likely to win profitable government contracts. Apart from generating job possibilities, this strategy promotes skill development among UAE citizens.
The economic policies of the UAE, which give R&D spending first priority, show its focus on innovation. The ICV initiative honours businesses that promote technology transfer and innovation within the nation. Doing this helps to promote technological developments in many sectors and promotes national objectives for a knowledge-based economy.
The UAE’s sensible financial policies have helped some projects, including the ICV Certification program, thrive. Government-backed finance schemes and capital investment in infrastructure projects allow companies to receive financial incentives in line with ICV goals. For example, enterprises that contribute significantly to the manufacture of local value qualify for tax reductions, while those that participate in local manufacturing or expand their operations get financial support.
These benefits make following the ICV criteria not only good but also crucial for companies trying to thrive in the UAE market over the long haul.
The ICV program is also affected by the trade policy of the UAE. Bilateral accords like Comprehensive Economic Partnership Accords (CEPAs) aim to enhance economic ties and guarantee that local businesses gain from global alliances. The ICV program helps to further these initiatives by encouraging cooperation between Emirati businesses and foreign investors, giving local value generation first priority.
Recent changes to the ICV certification process require stand-alone audited financial statements, particular to each company being certified, beginning in January 2025 as part of continuous improvements to guarantee openness and efficiency. This shift shows the government’s dedication to more responsibility and to making sure authorised businesses really support regional economic objectives.
Particularly in strengthening economic resilience during difficult periods, such as the COVID-19 epidemic, the ICV program has been of great help. It reduced economic disruptions and sped up recovery efforts by localising supply networks and generating employment in the private sector. This resiliency underlines the program’s fit with more general economic goals directed at sustainability.
The success of the In-Country Value Certification program is based on the economic policies of the UAE. By aligning with the country’s objectives for sustainability, innovation, diversity, and Emiratization, these policies guarantee that the ICV certification program remains a strong instrument for promoting regional economic development. Using ICV ideas under the revised rules helps companies to contribute to the UAE’s bright future and gain a competitive advantage.