ICV “In Country Value Seminar on 27th May in Dubai Taj Hotel hosted by Mayur Batra Group for Business Councils.
ADNOC has introduced an In-Country Value (ICV) program for its suppliers. This procurement-let initiative aims to boost ADNOC’s ICV contribution by focusing on local supplier selection, development of UAE Nationals, and the localization of critical functionalities in the oil & gas industry.
Announcement of this program was made late 2017, implementation was started early 2018 and later that year it has been revised. Now it is fully implemented in ADNOC and all of its 14 subsidiary companies. Note that each country in the region will have their own similar program, which are all currently in Oil&Gas sector, but later looking to expand nation wide.
How can you get your company ICV certified?
ADNOC has appointed Mayur Batra Group as an independent certification body to support suppliers with certification of their ICV scores. Their team can evaluate your organization/s ICV score and provide innovative solutions to help improve your score. This scoring is based on goods manufactured within UAE, third party spend, revenue, local investments, Emiratization, expatriate contribution.
The certification process will take approximately 10 months and is valid 18 months, exception of improvement plan.
Document can be seen here to understand more closely of calculation method of ICV score etc. To asses your companies ICV value it is recommended to contact an independent certification body, like Mayur Batra Group .