Why the ICV Certificate Matters for Companies in Dubai

 Why the ICV Certificate Matters for Companies in Dubai

In an increasingly competitive business environment, companies operating in Dubai and across the UAE are recognizing the strategic importance of the In-Country Value (ICV) certificate. More than just a compliance requirement, the ICV certificate has become a key differentiator for businesses looking to thrive, especially when working with government and semi-government entities.

What Is the ICV Certificate?

The ICV (In-Country Value) certificate is a document issued under the UAE’s National ICV Program, which was launched by the Ministry of Industry and Advanced Technology (MoIAT). Its main objective is to boost economic diversification and support the localization of supply chains by encouraging companies to invest in local resources, hire UAE nationals, and enhance local manufacturing.

The ICV score is calculated based on various factors such as:

  • Local manufacturing expenditure

  • Investment in UAE-based assets

  • Emiratization (hiring of UAE nationals)

  • Third-party spending within the UAE

Companies are required to obtain this certificate to participate in tenders and procurement processes with entities like ADNOC, Aldar, Etihad Rail, and other government-linked institutions.

Why Does the ICV Certificate Matter?

1. Access to Lucrative Contracts

Government and semi-government entities give preference to companies with higher ICV scores during the procurement process. Without an ICV certificate, companies may be disqualified from bidding or may receive a lower evaluation ranking, significantly reducing business opportunities.

2. Enhanced Competitiveness

The ICV framework promotes operational efficiency and encourages companies to optimize local spending and workforce development. This can lead to improved overall performance and competitiveness in both local and regional markets.

3. Support for Localization and Sustainability

By aligning with the ICV program, companies contribute to the UAE’s strategic goals of reducing dependency on imports, boosting local talent, and developing sustainable economic practices. This strengthens national resilience and long-term sustainability.

4. Reputation and Brand Value

Holding an ICV certificate demonstrates corporate responsibility and alignment with national development objectives. It enhances a company's reputation among stakeholders, including clients, investors, and regulatory bodies.

5. Improved Investment Appeal

International and regional investors are increasingly valuing companies that adhere to local compliance and development standards. The ICV certificate signals sound governance and commitment to the UAE's future vision, making such companies more attractive for partnerships or acquisitions.

Who Needs an ICV Certificate?

Any company that intends to work with or supply goods and services to participating government or semi-government entities in the UAE should consider obtaining an ICV certificate. It applies to businesses across various sectors, including manufacturing, construction, services, and trading.

How to Get an ICV Certificate in Dubai

The process includes:

  1. Preparing Audited Financial Statements (according to IFRS)

  2. Engaging a Certified ICV Certifying Body

  3. Submitting Required Documents and Calculations

  4. Receiving Your ICV Certificate, which is valid for 14 months from the date of the financial audit

It’s advisable to work with experienced consultants or auditing firms to ensure accurate and efficient certification.


Final Thoughts

The ICV certificate is more than a bureaucratic formality—it is a strategic asset. For companies in Dubai aiming to scale their business, build credibility, and win high-value contracts, ICV certification is essential. By embracing this program, businesses not only increase their competitiveness but also play a pivotal role in the UAE’s vision for economic diversification and sustainable development.

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