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The ADNOC In-Country Value Certification Program

 Assist Plus is appointed as one of ADNOC's certifying body as part of its In-country value program.

We have been designated as one of ADNOC’s certifying bodies to perform the In-Country Value (ICV) program for ADNOC  and its group companies aiming to support UAE GDP diversification, sourcing more goods and services within the UAE, contribute the placement of the Emirati workforce in the private sector.

 

What is the In-Country Value (ICV) Certification program and the newly introduced unified ICV Program?

The ICV program was initially launched by Abu Dhabi National Oil Company (ADNOC) in 2018 with the following objectives in line with UAE vision 2030:

  1. Improvement of the country’s GDP by enhancing local supplies of goods and services. 

  2. Encouragement of investors to build up manufacturing facilities in the country. 

  3. Emiratisation in the private sector. 

Later, various Government and Semi-Government Entities (Participating Entities) collaborated with ADNOC to launch a unified ICV program to enhance the ICV Certification process in 2019 and 2020. 

 

Under unified ICV program, all the ADNOC and Participating Entities vendors must obtain an ICV Certificate that shows the ICV score achieved by a vendor for a financial year. 

ICV score demonstrates how vendors are helping to achieve the ICV as mentioned earlier objectives. If a vendor does not have an ICV Certificate, their ICV score will be considered (Zero) in the tender evaluation process. So that vendor will be under competitive disadvantage when its bid is compared to its competitors.

 

Who Needs a Unified ICV Certificate?

Companies supplying directly or indirectly as sub-suppliers to ADNOC and the following Participating Entities are required to submit the unified ICV Certificate with their tenders.

 

  • ADNOC

  • Abu Dhabi Department of Economic Development

  • Mubadala

  • Aldar Properties

  • ENEC

  • Abu Dhabi Ports

Pre-requisites for ICV Certificate

 

A company must provide IFRS complied audited financial statements for the last two financial years signed by a partner in an Audit firm registered with the Ministry of Economic. The audited financials should not be older than two years from the certification year. For companies newly established (less than ten months old), the management accounts for up to 9 months from the establishment date can be used for ICV Certification. Any management accounts greater than nine months needs to be audited. 

 

Each trade license of a Company is considered an independent legal entity for ICV Certification purposes; even the ownership structure is the same. However, a company with different branches in the same Emirate with identical activities and ownership can obtain one unified ICV Certificate for submission with tender by any branch of that Company.

 

The validity of the ICV Certificate

The validity of the ICV certificate is 14 months from the date the Audited Financial Statements are issued. The supplier can get recertified from the same Certifying Body during the ICV certificate's validity, using the same audited financial statements; however, the validity of 14 months from the first issue will remain the same. 

 

Our service

 

We are appointed as one of the ICV Certifying Bodies approved by the ICV Committee, and therefore we can support companies to certify their ICV score. To discuss how Assist Plus can assist you to obtain ICV Certificate, please contact us at info@assistplus.ae

Assist Plus a leading ICV certifying body for ADNOC ICV and Abu Dhabi ADV for Al dar properties, Etihad Airways and Abu Dhabi department of economic development. ICV consultancy, ICV certificate, ADNOC ICV, get your ICV certificate now, Assist Plus Accounting and auditing ICV services and ADV certificate