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Unified In-Country Value (ICV)

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​​Unified In-Country Value (ICV) Certification Abu Dhabi

What is the Unified In-Country Value (ICV) Program

ICV Certification in Abu Dhabi, Abu Dhabi Department of Economic Development (ADDED) had launched the Abu Dhabi Local Content Program (ADLC) with the following objectives:

  • GDP Growth: Supporting GDP growth through sourcing more goods and services within Abu Dhabi, increasing foreign direct investment in Abu Dhabi, and increasing the private sector and SME’s contribution to the GDP;
  • Human Capital Development: Creating additional employment opportunities for Emiratis in the private sector and developing the skills of the local workforce;
  • Technology Adoption: Increasing spending on research and development (R&D), increasing competitiveness of the national industries, increasing technology development and use.

In February 2020, a Memorandum of Understanding (MoU) was signed between ADDED and the Abu Dhabi National Oil Company (ADNOC), to enhance cooperation and broaden the scope of the program to the overall Emirate level (UAE). Under the terms of the agreement, the ADDED’s ADLC Program and ADNOC’s In-Country Value Program (ICV) was integrated and standardized to produce 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 previous ADLC formula (implemented by ADDED) had now been modified for the calculation of the ICV Score. The formula is divided into the following attributes, where the amount spent across the UAE level (previously at Abu Dhabi level) will now be considered as added value. The calculation methodologies are explained in detail in the relevant sections... The following areas are taken into consideration:

  • Goods Manufacturer - Industrial Suppliers
  • Third-Party Spend i.e. for Services Providers/Non-Industrial Suppliers
  • Investments
  • Emiratization
  • Expatriate Contribution
  • Bonus – i) Revenue from outside UAE, ii) Emirati Headcount, and iii) Investment Growth

Who needs a Unified ICV Certificate?

Companies working directly as suppliers or indirectly as sub-supplier with the following Govt. and semi-Govt. Department is required to acquire the unified ICV certificate.

  • ADNOC Group Companies
  • Abu Dhabi Department of Economic Development (ADDED)
  • Aldar Properties
  • Abu Dhabi Ports
  • Environment Agency Abu Dhabi
  • All other Govt Departments of Abu Dhabi
  • Companies submitting tenders through Musanada (Abu Dhabi General Services Company)

How does it work?

  • Suppliers shall possess an ICV certificate issued by an ICV Empaneled Certifying Body.
  • ICV certificate shall be obtained for each legal entity of the Supplier, which intends to be certified. Each license of a Company is considered as an independent legal entity even if the owner is the same. However, if a company has different branches in the same Emirate with identical activities and ownership listed on the licenses, then one combined ICV certificate will be issued for the Company in that Emirate.
  • All figures entered in the ICV certificate template should tally with the Supplier’s latest audited Financial Statements. The audited financial statements shall be as per the International Financial Reporting Standards (IFRS), and shall not be older than 2 years from the certification year.
  • For newly established companies (less than 10 months old), who do not have audited financial statements, the Management Accounts for a period of up to 9 months can be used for ICV calculations. Any management accounts greater than 9 months will be required to be audited.
  • The ICV certificate shall be valid for a period of 14 months from the date of issuance of Audited Financial Statements.
  • Upon appointing an Empaneled Certifying Body, Supplier shall not change the Empaneled Certifying Body for that year’s ICV certificate without proper justifications.
  • Supplier’s submission shall consider all Supplier’s costs incurred and revenue earned during the financial year.

What we offer as trusted ICV Consultant

  • The client's financial statement will be audited and signed.
  • Making the clients understand the ICV and the determining factors that affect the ICV score.
  • Suggest the steps of improving the ICV score and include the incremental effect of each step in our impact analysis report. This includes mainly, among other steps, the recommendation of restructuring in organizational processes to increase ICV score.
  • ​Swift Accounts & Audit is the best Audit firm in Abu Dhabi, ICV consultancy and certification in Abu Dhabi
  • Draft the ICV template, based upon the records of the financial year under certification that can be presented to the ICV certifying body to ensure the achievement of ICV score as per the drafted template.
  • Draft the ICV improvement plans that are required to be submitted with the tenders of the ADNOC.