ADNOC ICV Certification

ADNOC ICV Certification; ADNOC has launched an In-Country Value (ICV) program with the objective of growing and diversifying the UAE’s economy. As part of ADNOC’s ICV program, all ADNOC suppliers are required to declare their ICV achievement (ICV Certificate). Suppliers that don’t have an ICV confirmation can in any case partake in ADNOC tenders, yet will be considered with 0% of ICV, which in the long run will position them as less focused than providers that have the accreditation.

What Is The ADNOC In-Country Value (ICV) Program?

The ADNOC In-Country Value program is an obtainment drove activity that plans to help support ADNOC’s ICV commitment by concentrating on nearby provider choice, the advancement of UAE Nationals, and the restriction of basic functionalities in the oil and gas industry.

ADNOC has provided the Supplier submission template which needs to be filled based on the latest audited financial statements and supporting information from the books of accounts.

Companies that Require ADNOC ICV Certification

According to ICV criteria, businesses inside or outside the UAE are eligible to apply for an ICV Certification. Any businesses that want to apply for governmental and semi-public procurements must have ICV certification. ICV is given a particular amount of weight when evaluating bids. This is not a necessary need, though.

As an integral component of their tender evaluation and award process, the Tier 1 suppliers (suppliers that directly provide products or services to the Partners of the Program) may be required to disclose their ICV Score. In order to compete with Tier 1 suppliers in their tenders, suppliers in the Tier 2 category and lower must also show their ICV Certificate.

Providing Support when you need it

The certifying bodies’ ICV evaluation formula takes account of goods manufactured in the UAE, the value of third-party spend in the UAE, a company’s investment in the UAE and its Emirati station record, as well as the UAE-based expatriate employees’ contribution to the national economy. The evaluation also takes account of a supplier’s operating costs and depreciation cost, along with any exports created.

This certificate is given to ADNOC suppliers who pass a rigorous evaluation. It is a component of the Unified ICV Program, which was implemented to stimulate the local supplier market. The evaluation is performed by accredited Adnoc ICV certification agencies. These organizations examine a supplier’s financial records to see if they are in compliance with the rules.

ADNOC ICV program was designed to:

Encourage private-sector partnerships and opportunities resulting from the company’s 2030 growth strategy
Catalyze socio-economic development
Improve knowledge transfer
Generate employment opportunities for the UAE nationals

Frequently Asked Questions

What is the validity of ADNOC ICV Certification?

The validity of ADNOC ICV Certification is one year from the date of issuance.

What are the objectives of the program?

New local industries and services are being developed through strategic localization of supply chains;
Expansion of exports, diversification of the economy, and stimulating foreign investment;
Providing valuable job opportunities in the private sector;
Contributing to the growth of national GDP;
Enhance spending on R&D and advanced technology; and
Increase the private sector’s contribution to national GDP.

How much does it cost to obtain an ICV Certificate?

The fee for the ADNOC ICV Certification varies depending on the size of the Company and the procedures required to be performed to issue the ICV Certificate.

For more information about our ICV service offerings, kindly send us an enquiry at info@markef.com. or visit us at www.markef.com

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ADNOC ICV Certification