ICV Certificate In UAE
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ICV Certification in Abu Dhabi
The In-Country Value (ICV) Program, launched under the UAE’s “Projects of the 50” initiative, is a national strategy aimed at strengthening the local economy. It encourages government entities and major organizations to source goods and services from UAE-based suppliers, manufacturers, and service providers. The program evaluates how much businesses contribute to the local economy through spending on local products, services, and industries.
The ICV initiative plays a crucial role in the UAE’s vision to create a diverse, self-sustaining economy by attracting investment, empowering Emirati entrepreneurs, and building long-term, high-value partnerships across sectors.
As an authorized ICV certifying body, Farahat & Co. assists businesses in obtaining their ICV Certificate efficiently and in full compliance with the Ministry of Industry and Advanced Technology (MoIAT) and ADNOC requirements. Our experienced professionals ensure accurate documentation, seamless coordination with the approving authorities, and transparent reporting — helping your company achieve the best possible ICV score.
What is an ICV Certificate UAE?
The In-Country Value (ICV) Certificate is an official document that reflects how much your company contributes to the UAE’s national economy. It forms a key part of the National ICV Program, launched by the Ministry of Industry and Advanced Technology (MoIAT) to promote local industrial growth, create employment opportunities for Emiratis, and support economic diversification.
The certificate is issued by authorized certifying bodies, which assess a company’s overall contribution to the UAE economy. Once certified, suppliers can present their ICV Certificate to any of the Participating Entities within the program, including government and semi-government organizations.
How the ICV Score Is Calculated
Your company’s ICV score, displayed on the official certificate, is determined based on MoIAT’s approved formula. It evaluates several key factors, including:
Local Expenditure: Spending on goods and services sourced from UAE-based suppliers.
Emiratization: Employment, training, and development of UAE nationals.
Investments: Capital investments made within the UAE, such as facilities, equipment, and infrastructure.
Exports & Innovation: Contributions to technology development, research, and exports that strengthen the UAE’s economy.
How to Get an ICV Certificate in UAE?
The In-Country Value (ICV) Certification is issued based on a company’s audited financial statements and supporting data, verified by an authorized certifying body. The certification reflects your business’s compliance with the UAE’s economic contribution standards set by MoIAT.
Step-by-Step ICV Certification Process
Prepare Audited Financial Statements
Ensure your financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) and are not older than two years.Gather Required Documents
Collect all necessary documents, including your trade license, ownership details, Emiratization records, and procurement breakdowns.Calculate Your ICV Score
Determine your preliminary ICV score based on local spending, procurements, investments, and Emiratization performance.Submit to an Approved Certifying Body
Only MoIAT-authorized certifying bodies are permitted to review and issue ICV Certificates.Receive Your ICV Certificate
Upon successful verification and approval, your company will be granted an ICV Certificate valid for 14 months from the date of issuance.
Why is ICV Certification Important for Businesses?
Earning an In-Country Value (ICV) Certificate offers several strategic advantages for businesses operating in the UAE:
Eligibility for Government and Semi-Government Tenders
Entities such as ADNOC, Aldar, Etisalat, and other major organizations require the ICV Certificate as a prerequisite for tender participation.Higher Supplier Ranking
A strong ICV score enhances your company’s position during procurement evaluations, improving your chances of winning contracts.Enhanced Business Credibility
Demonstrates your company’s commitment to the UAE’s economic goals, local sourcing, and Emiratisation initiatives.Competitive Advantage
Certified companies gain preference from federal and local entities, positioning them ahead of non-certified competitors.
Who Needs an ICV Certificate in the UAE?
An In-Country Value (ICV) Certificate is essential for companies seeking to work with government and semi-government organizations in the UAE.
While it is not legally mandatory, obtaining the certificate is crucial for competitiveness in the tendering process.
Companies without an ICV Certificate automatically receive a score of zero, which can severely reduce or eliminate their chances of winning bids.
1. Government Contractors: All suppliers and contractors bidding for federal or emirate-level tenders are required to hold an ICV Certificate.Government entities evaluate vendors based on their ICV score, which measures their economic contribution to the UAE through local sourcing, Emiratisation, and investments.
2. ADNOC Suppliers: A valid ICV Certificate is mandatory for all vendors, contractors, and service providers working with ADNOC or any of its subsidiaries.
It is a core component of ADNOC’s procurement process, ensuring that business partners align with the UAE’s national development goals.
3. Semi-Government Vendors: Companies supplying products or services to semi-government organizations—particularly in utilities, infrastructure, transport, and energy sectors—must obtain an ICV Certificate. Entities such as TAQA, Emirates Steel, and Etisalat require this certification to verify suppliers’ local economic impact before awarding contracts.
4. Subcontractors: Even if your company is not directly bidding for a government contract, a prime contractor may require you to provide an ICV Certificate.Your score contributes to the main contractor’s overall ICV evaluation, influencing their eligibility and ranking.
Our ICV Certification Services
Farahat & Co. provides complete assistance for ICV certification. Our services include:
1. Financial Statement Review:We review your audited financial statements to determine their conformity with MoIAT’s format and standards. These statements are prepared under IFRS and carry the signature of either a UAE-licensed or a Ministry-approved auditor and should not be older than 2 years from the year of certification.
2 . ICV Template Preparation: We fill out the official ICV template in all its details with information about local purchases, salaries, capital assets, and other relevant metrics for your company. The utmost care must be exercised—as a mistake may cause delay or rejection of your application.
3.MoIAT-Authorized Certifying Body:The ICV certificates are issued only by the firms approved by the MoIAT. Farahat & Co. is a professional service firm who is an authorized certifying body for verifying and issuing the ICV Certificate to suppliers based on the Ministry of Industry and Advanced Technology (MoIAT) criteria.
4. Strategic Advisory: Strategically, we provide an understanding of your current ICV score and practical techniques for improving the score, like employing UAE nationals, sourcing products locally, or investing in UAE infrastructure.
Documents Required for ICV Certification
To obtain an In-Country Value (ICV) Certificate, companies must prepare and submit the following documents and information:
Valid Trade License
Audited Financial Statements (prepared under IFRS and not older than 2 years)
Ownership and Entity Structure Details
Employee Information, including Emiratization Data
Procurement and Supplier Breakdown
Investment Details (if applicable)
At Farahat & Co., we conduct a comprehensive review of all documents prior to submission to ensure full compliance with MoIAT standards and to prevent any delays or rejection during the certification process.
Validity and Renewal of the ICV Certificate
An ICV Certificate is valid for 14 months from the date of the audited financial statements used in the application.
To maintain eligibility for government tenders and supplier listings, companies are encouraged to renew their ICV Certificate annually.
Our consultants at Farahat & Co. provide continuous support and guidance to ensure your certification remains valid, up to date, and aligned with all regulatory requirements issued by MoIAT and ADNOC.
FAQs
Yes, it is mandatory for companies bidding on tenders from ADNOC and other ICV-participating entities. For other organizations not involved in government contracts, obtaining the certificate remains optional but highly recommended.
Yes, companies registered in Free Zones can also apply for ICV Certification, provided they supply products or services to entities participating in the ICV Program.
Your audited financial statements must be no older than two years from the year of certification. If they are older, you will need to update your audit before applying for the ICV Certificate.
While there is no fixed benchmark, a higher ICV score increases your company’s preference and competitiveness in tender evaluations and procurement processes.
