H.H. sheikh Khalid bin Mohamed bin Zayed, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office witnessed today the signing of a Memorandum of Understanding (MoU) between Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi National Oil Company (ADNOC), to enhance cooperation and drive In-Country Value (ICV) for Abu Dhabi following the success of ADNOC’s ICV program.
Under the terms of the agreement, ADDED will integrate and standardize ADNOC’s ICV certification program across the Abu Dhabi Government’s procurement process. This extends the impact and reaches of the ICV initiative, which ADNOC developed to strengthen the spill-over economic impact across the UAE.
Following this agreement, businesses can make a one-time application for a unified In-Country Value (ICV) certificate that will now be applicable for the Abu Dhabi Government’s commercial evaluation process of goods and services procurement.
The MoU was signed by His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, and His Excellency Mohammed Ali Al Shorafa Al Hammadi, Chairman, ADDED, in the presence of other representatives of both entities. This is the post content.