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The ADNOC In-Country Value (ICV) Programme is a transformative initiative by the Abu Dhabi National Oil Company (ADNOC) aimed at fostering economic growth and sustainability within the United Arab Emirates (UAE). In this guide, we’ll explore what the ADNOC ICV programme is, its key benefits, and how businesses can successfully align with its objectives.
What is the ADNOC ICV Programme?
The ADNOC ICV programme is designed to measure and enhance the value generated from ADNOC’s spending in the UAE. It evaluates suppliers based on their contributions in the following areas:
1. Employment of UAE Nationals
Encouraging local talent by prioritizing the hiring and development of Emirati professionals.
2. Local Procurement
Sourcing goods and services from local suppliers to strengthen the UAE’s industrial base.
3. Expenditure in the UAE
Ensuring investments remain within the UAE to boost the local economy.
4. Technology Transfer and Knowledge Sharing
Promoting innovation and capacity-building through technology transfer to local businesses.
Benefits of the ADNOC ICV Programme
The ICV programme delivers significant advantages for ADNOC, its suppliers, and the UAE economy as a whole. Here’s how:
Economic Diversification
By encouraging local manufacturing and services, the programme reduces reliance on imports and enhances the UAE’s economic resilience.
Job Creation
The focus on Emiratization creates new employment opportunities for UAE Nationals, supporting the country’s development goals.
Enhanced Competitiveness
Suppliers with strong ICV scores gain a competitive edge in ADNOC tenders, fostering a collaborative business environment.
Sustainable Development
Local investments in infrastructure, technology, and skills promote sustainable growth and reduce carbon footprints through shorter supply chains.
Steps to Achieve a High ICV Score
Businesses aiming to partner with ADNOC should focus on these essential steps to align with the programme’s objectives:
1. Obtain an ICV Certificate
Work with an ADNOC-approved certifying body to assess your ICV contributions. The certificate is valid for 14 months.
2. Focus on Local Hiring
Invest in Emirati talent development through training and employment initiatives.
3. Strengthen Local Partnerships
Collaborate with local suppliers and service providers to enhance your supply chain’s local value.
4. Invest in Technology and Innovation
Support R&D and the transfer of knowledge to the UAE to improve your ICV score.
5. Continuous Improvement
Regularly evaluate and optimize your operations to align with the programme’s objectives.
Success Stories from the ADNOC ICV Programme
Many companies have reaped the benefits of participating in the ADNOC ICV programme. Local SMEs have experienced increased revenues and expanded capabilities through opportunities and partnerships facilitated by ADNOC. Multinational corporations have also established robust local footprints, creating mutually beneficial scenarios for all stakeholders.
Why Your Business Should Participate in the ADNOC ICV Programme
The ADNOC ICV programme is more than just a procurement policy—it’s a strategic framework for sustainable growth. By aligning with the programme, businesses gain access to ADNOC’s extensive projects while contributing to the UAE’s vision of economic diversification and prosperity.
Are you ready to elevate your business in the UAE market? Start by obtaining your ICV certification and unlock new opportunities in this thriving economy.