Introduction
The In-Country Value (ICV) Certification has become an important consideration for businesses supplying goods and services to major companies, government-related entities and organisations participating in the UAE’s procurement ecosystem.
The National In-Country Value (ICV) Program is administered by the UAE Ministry of Industry and Advanced Technology (MoIAT). The program is designed to encourage businesses to increase their contribution to the UAE economy through local spending, investment, employment and other forms of economic value creation.
MoIAT explains that an ICV certificate evaluates a certified supplier’s contribution to the local economy, and certified suppliers can gain advantages during the award of tenders and contracts based on their ICV score.
For businesses that regularly participate in tenders or supply major UAE companies, understanding ICV certification can therefore be important for business growth and procurement opportunities.
What Is ICV Certification in the UAE?
ICV stands for In-Country Value.
An ICV Certificate measures the extent to which a company contributes to the UAE economy.
The assessment can consider areas such as:
- Local manufacturing
- UAE-based procurement
- Local third-party spending
- Investment in UAE assets
- Emiratisation
- Expatriate contribution
- Revenue generated outside the UAE
- Other qualifying economic contributions
The exact calculation depends on the applicable ICV formula and the nature of the business.
The National ICV Program is administered through MoIAT, with authorised certifying bodies responsible for reviewing applications and issuing ICV certificates.
Why Was the ICV Program Introduced?
The ICV program was originally pioneered by ADNOC in 2018 and was later nationalised by MoIAT in 2021 as the National ICV Program.
The broader objectives include:
- Increasing local procurement
- Supporting UAE-based businesses
- Encouraging local manufacturing
- Developing domestic supply chains
- Creating employment opportunities
- Supporting Emiratisation
- Encouraging investment in the UAE
- Increasing economic value retained within the country
The program has therefore become part of the UAE’s wider strategy to strengthen domestic industrial and business capabilities.
Why Is an ICV Certificate Important?
One of the most important reasons businesses consider ICV certification is its relevance to procurement and tender opportunities.
MoIAT states that certified suppliers can gain advantages in tender and contract awards based on their ICV score.
This means that companies supplying participating organisations may benefit from having a valid ICV certificate and a well-supported ICV score.
However, an ICV certificate does not guarantee that a company will win a tender. Procurement decisions can involve other commercial, technical and qualification criteria as well.
ICV and ADNOC Suppliers
ADNOC was the original organisation behind the ICV program.
ADNOC continues to use ICV as an important part of its procurement ecosystem. Its current ICV program evaluates suppliers based on factors including UAE-manufactured goods, domestic third-party spending and Emiratisation.
In 2026, ADNOC also announced an Industrial Resilience Program, building on its ICV program and introducing initiatives designed to strengthen local manufacturing and UAE supply chains.
For companies working with ADNOC, its contractors or other organisations applying ICV principles, understanding the applicable procurement requirements is particularly important.
Is ICV Only for Manufacturing Companies?
No.
The National ICV Program applies across relevant industrial and services sectors.
ICV calculations can differ depending on whether the company is a manufacturer or service provider.
MoIAT’s ICV formula provides separate considerations for manufacturers and other eligible businesses.
For example, a service provider may have a significant ICV contribution through:
- UAE-based employees
- Local suppliers
- UAE operating expenses
- Emiratisation
- UAE investments
- Local procurement
Therefore, service companies should not assume that ICV is relevant only to factories or manufacturers.
How Is the ICV Score Calculated?
The ICV score represents the company’s contribution to the UAE economy based on the applicable ICV formula.
For manufacturers, MoIAT’s current formula includes categories such as:
- Manufacturing cost
- Investments
- Emiratisation
- Expatriate contribution
- ICV bonus
- Advanced technology and sustainability bonus
The current MoIAT formula allocates different weightings to these categories.
For example, the published formula gives significant weight to costs incurred within the UAE and also considers UAE assets, Emiratisation and other qualifying contributions.
The exact score should therefore be calculated using the applicable official ICV methodology rather than an informal percentage calculation.
What Can Improve an ICV Score?
Businesses can potentially improve their ICV position by increasing qualifying economic activity within the UAE.
1. Increase Local Procurement
Purchasing qualifying goods and services from UAE-based suppliers can contribute to the company’s local value creation.
2. Invest in UAE Assets
Investment in qualifying UAE assets may contribute to the ICV calculation.
3. Develop UAE Talent
Emiratisation-related costs and development activities can form part of the ICV calculation under the applicable formula.
4. Increase Local Manufacturing
For manufacturers, increasing production and value creation within the UAE can be important to the ICV calculation.
5. Improve Local Supply Chains
Businesses can review their supplier base and identify opportunities to source more products and services locally.
6. Maintain Proper Financial Records
Accurate accounting records are essential because the ICV assessment relies on financial information and supporting documentation.
What Documents Are Required for ICV Certification?
MoIAT lists a valid business licence and audited financial statements among the requirements for ICV certification, with additional documents depending on the company’s size and circumstances.
Depending on the business, supporting information may include:
- Valid trade licence
- Audited financial statements
- Employee information
- Payroll records
- UAE procurement records
- Supplier information
- Fixed asset records
- Investment information
- Emiratisation information
- Revenue information
- Other supporting financial records
Businesses should ensure that their accounting records and supporting documents are properly organised before starting the certification process.
ICV Certification Process in the UAE
The ICV certification process is conducted through the MoIAT digital platform.
The general process includes:
Step 1: Register or Log In
The company accesses the relevant MoIAT digital platform.
Step 2: Apply for ICV Certification
The company submits an application for an ICV Certificate.
Step 3: Select a Certifying Body
The company selects an authorised ICV certifying body.
Step 4: Submit Information
Required financial and supporting information is provided for assessment.
Step 5: Review and Audit
The certifying body reviews the submitted information and conducts the required assessment.
Step 6: Certificate Issued
Once the process is completed, the ICV Certificate is issued.
MoIAT’s published service procedure specifically identifies applying through the platform, selecting an audit firm, submitting information, paying the relevant fees, undergoing the required field audit and receiving the ICV Certificate.
Why Audited Financial Statements Matter for ICV
One of the important requirements for ICV certification is having appropriate financial information.
MoIAT lists audited financial statements among the requirements for obtaining an ICV Certificate.
Therefore, businesses should ensure that their accounting records are:
- Complete
- Accurate
- Properly reconciled
- Supported by documentation
- Prepared in accordance with applicable accounting requirements
Poor accounting records can make the ICV assessment more difficult and may affect the company’s ability to substantiate its calculations.
Businesses can use professional Accounting & Bookkeeping Services to maintain organised financial records.
ICV Certification for SMEs
ICV certification is not only relevant to large corporations.
Small and medium-sized businesses can also participate in supply chains where ICV is considered.
An SME that supplies products or services to a large company may benefit from understanding:
- Whether the customer applies ICV requirements
- Whether an ICV certificate is required
- What financial records are needed
- How the company’s ICV score is calculated
- How local procurement can affect its score
The National ICV program includes thousands of certified companies across different sectors. MoIAT maintains a directory of companies holding valid National ICV certificates.
ICV Certificate and Tender Opportunities
For companies involved in procurement, ICV certification can become an important part of their tender preparation.
A company may need to consider ICV alongside other requirements such as:
- Technical qualifications
- Commercial pricing
- Product quality
- Previous experience
- Financial capability
- Health and safety requirements
- Industry-specific certifications
- Customer-specific supplier requirements
MoIAT states that ICV-certified suppliers can gain advantages in tender and contract awards based on their ICV score.
Therefore, businesses targeting procurement opportunities should understand the specific ICV requirements of the customer or tender before submitting an offer.
Common ICV Mistakes Businesses Should Avoid
1. Starting the Process Too Late
Businesses should prepare their financial records before beginning the certification process.
2. Poor Accounting Records
Incomplete or inaccurate accounting records can make it difficult to support the ICV calculation.
3. Incorrect Supplier Classification
Supplier information should be properly reviewed when determining qualifying local expenditure.
4. Missing Supporting Documents
Every important calculation should be supported by appropriate records.
5. Assuming a High Revenue Means a High ICV Score
ICV is based on the applicable formula and the company’s contribution to the UAE economy, not simply its total revenue.
6. Treating ICV as a One-Time Exercise
Businesses should consider ICV throughout the year because procurement, employment, investment and other activities can affect the eventual calculation.
ICV and Accounting: Why They Are Connected
Good accounting records are an important foundation for ICV certification.
Your financial statements can provide information needed for areas such as:
- UAE purchases
- Third-party expenses
- Employee costs
- Asset investments
- Revenue
- Supplier payments
- Manufacturing costs
- Other financial information
This is why businesses preparing for ICV certification should keep their accounting records updated throughout the year.
For professional accounting support, explore Elysian’s Accounting and Bookkeeping Services in Dubai.
How Elysian Consulting Group Can Help With ICV
At Elysian Consulting Group, we support UAE businesses with accounting, audit, tax and business advisory services.
For businesses preparing for ICV certification, our support can include:
- Reviewing financial records
- Organising accounting information
- Reviewing relevant expenses
- Supporting ICV-related financial data preparation
- Coordinating required financial information
- Assisting businesses in understanding ICV requirements
- Supporting documentation preparation
Our team can also assist with related Audit & Assurance Services and accounting requirements.
Please note that the final ICV certification is issued by an authorised ICV certifying body following the applicable MoIAT process. Elysian’s role should be understood as advisory/accounting support unless separately engaged as an authorised certifying body.
ICV Certification: A Practical Checklist
Before applying, businesses should consider checking:
☑ Valid trade licence
☑ Audited financial statements
☑ Updated accounting records
☑ Bank reconciliations
☑ Supplier records
☑ UAE procurement records
☑ Employee and payroll records
☑ UAE asset information
☑ Emiratisation-related information
☑ Revenue records
☑ Supporting invoices and documents
☑ Previous ICV Certificate, if applicable
☑ Customer/tender ICV requirements
☑ Appropriate authorised certifying body
Conclusion
ICV Certification in the UAE is an important consideration for businesses that want to participate in procurement opportunities where In-Country Value is part of the evaluation framework.
The certificate measures a company’s contribution to the UAE economy and can provide advantages in relevant tender and contract awards based on the company’s ICV score.
The program also supports broader UAE objectives such as local procurement, domestic manufacturing, investment, employment and supply-chain development.
For businesses considering ICV certification, preparation should begin with accurate accounting records, audited financial statements and proper supporting documentation.
If your company is preparing for ICV certification or wants to understand how its financial records can support the process, professional accounting and advisory support can help you prepare more effectively.
Need Support With ICV Certification in the UAE?
Elysian Consulting Group
Website: www.elysianuae.com
Email: info@elysianuae.com
Phone: +971 54 243 9656
Author: Sivaprasad R
Business Development Manager
Elysian Consulting Group
