Unified In- Country Valuation ( ICV)
Unified In- Country Valuation
The In-Country-Value Program (ICV) pioneered by ADNOC in 2018 is an initiative designed to achieve the optimum value from the nation’s oil and gas resources to stimulate the UAE’s economic growth and diversification.
Recently, the Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi National Oil Company, Abu Dhabi Ports Company PJSC, Aldar Properties PJSC, Emirates Nuclear Energy Corporation, and Mubadala Investment Company (Participating entities) also have collaborated in this program by implementing a unified In-Country Value (ICV) Program
All suppliers that deal with ADNOC—either directly or indirectly—are expected to provide ICV related documents in their commercial bids when bidding with ADNOC. ADNOC will evaluate the ICV certificate and ICV improvement plan during the tender evaluation process.
Key aspects of In- Country Valuation ( ICV) certificate
- ADNOC recommend their suppliers to get their ICV certifications from approved ADNOC. Although noncertificate suppliers can also applied for group tenders their ICV score will consider as zero
- ICV certificate can only be prepared on the basis of the audit report of the last financial year
- The validity of the ICV certificate is 14 months from the date of issuance of audited financial statements by Auditors. For start-ups and newly established companies who are less than 10 months old, management accounts for a period of up to 9 months can be used for ICV certificates.
Calculation of ICV score
- Manufacturing Cost (For Manufacturers)
- Third-Party Spent (For Service Providers and Traders)
- Local Investment and its growth
- Employment of UAE nationals
- Expat Contribution
- Export of goods and services
Frequently Asked Questions
The In-Country Value (ICV) Program is a UAE government initiative designed to boost economic growth, encourage localization, and support economic diversification. Originally pioneered by the Abu Dhabi National Oil Company (ADNOC) in 2018, it has since expanded into a Unified ICV Program joining multiple government and semi-government entities across the UAE.
The Unified ICV Program brings together major UAE entities under a single certification standard. Participating entities include:
Abu Dhabi National Oil Company (ADNOC)
Abu Dhabi Department of Economic Development (ADDED)
Mubadala Investment Company
Aldar Properties PJSC
Emirates Nuclear Energy Corporation (ENEC)
Abu Dhabi Ports Company PJSC
An ICV certificate is not strictly mandatory to submit a tender, but it is heavily weighted during commercial evaluations. If a company bids without a valid ICV certificate, its ICV score is assigned as 0%, which significantly reduces its competitiveness against certified bidders.
During the commercial bid evaluation process, participating entities evaluate both the financial offer and the ICV score. A higher ICV score gives suppliers a significant advantage, as bids are weighted to favor companies contributing more to the local UAE economy.
Your ICV score measures your total value-added contribution to the UAE economy. Key criteria evaluated include:
Manufacturing Costs: (For manufacturers operating within the UAE)
Third-Party Spend: (For service providers and trading companies)
Local Investment & Growth: Net value of fixed assets located in the UAE
Emiratization: Employment and development of UAE national workforce
Expat Contribution: Spending on expat employees residing in the UAE
Exports: Value of goods and services exported outside the UAE
For established companies, ICV scores must be calculated using the audited financial statements from the company's most recent financial year. The financial statement must be audited by a licensed certifying body in the UAE.
An ICV certificate is valid for 14 months from the issuance date of the audited financial statements used for the calculation. Companies must renew their ICV certificate annually using updated audited figures.
Yes. Startups and newly formed companies that are less than 10 months old and do not yet have full-year audited financial statements can apply using management accounts covering a period of up to 9 months.
Manufacturers are primarily evaluated on local raw material sourcing, local manufacturing costs, and plant/equipment investments within the UAE.
Service Providers & Traders are primarily evaluated on third-party spend with UAE-based suppliers, local operational overheads, and local workforce expenditure.
Yes. Companies can create an ICV Improvement Plan to systematically increase their score over time. Strategies include sourcing more materials locally, hiring and training UAE nationals, spending with other ICV-certified vendors, and expanding fixed asset investments within the UAE.
ICV certificates are issued per legal entity (based on trade license and commercial registration). If your business operates multiple branches under separate licenses or distinct legal structures, each entity typically requires its own independent ICV evaluation and certificate.
MAATS CA provides end-to-end guidance to streamline your ICV certification process, including:
Conducting pre-assessment audits and gap analyses to estimate your current score
Helping optimize documentation and financial disclosures to maximize your ICV score
Assisting with the compilation and submission of required financial reports
Structuring ICV Improvement Plans for future tender opportunities