Discover why ICV Certification is vital for UAE businesses. Improve tender success, support national goals, and gain a competitive edge with BMS Auditing.
In today’s dynamic and interconnected UAE economy, businesses are expected to do more than just operate, they're expected to contribute to national growth. One key step toward achieving this is obtaining the In-Country Value (ICV) certification. More than a compliance requirement for government tenders, the ICV certification is a strategic enabler that aligns your business with the UAE’s economic vision and opens the door to new and valuable opportunities.
What Is ICV Certification?
Launched under the guidance of the Ministry of Industry and Advanced Technology (MoIAT), the ICV programme aligns with the UAE vision for economic diversification. It seeks to develop local industries, create jobs for UAE nationals, and foster domestic investment.
ICV certification assesses a company's value addition to the local economy in terms of:
- Purchase of goods and services locally in the UAE
- Employment of UAE nationals (Emiratization)
- Investments in local manufacturing
- Expenditure on local services
- Capital investments within the country
Key Benefits of ICV Certification
- Greater Business Opportunities
ICV-certified companies enjoy a competitive edge when bidding for contracts with government entities and large corporations in the UAE. Higher ICV scores often translate into preferential treatment, improving your chances of winning high-value projects.
- Enhanced Market Competitiveness
In what is a highly competitive market, ICV certification serves as a powerful differentiator. It expresses your commitment to the UAE's strategic objectives and ensures a strong commitment to enhancing the local economy.
- Access to Government Incentives
Government-backed incentives such as financial grants, subsidies, and procurement benefits may be available to ICV-certified organizations.
- Support for National Development
By obtaining an ICV certificate, your company is helping the UAE's overall goals—building local industries, enhancing Emiratization, and creating a resilient economy. This enhances the credibility and social responsibility of your brand.
- Enhanced Local Partnerships
The ICV system supports partnerships with local service providers and suppliers, establishing a stable and self-sustaining supply chain. This aids in the development of a healthy business ecosystem within the UAE.
- Long-Term Sustainability
Sourcing locally, employing locally, and investing locally reinforce a resilient business model that is less vulnerable to fluctuations in global markets and more resilient to global economic trends.
- Improved Brand Image
Firms that are visibly committed to local progress and uphold national priorities tend to have greater brand reputation, customer allegiance, and investor attraction.
Steps to Obtain ICV Certification
- Audit Your Financial Statements
Begin by having your finances audited by a UAE Ministry of Economy-approved auditor.
- Choose BMS Auditing Approved Certifying Body
Pick BMS Auditing as your trusted certifying body that MoIAT for the ICV assessment. We will examine your records and data according to specified ICV metrics.
- Submit Documentation and Obtain Certification
After reviewing and approving your submission, BMS Auditing will issue you an official ICV certificate from the portal on behalf of MoIAT .
- Maintain and Improve Your Score
ICV certification can be renewed. Stay competitive by continually enhancing your score through local hiring, procurement, and investment programs.
Why BMS Auditing?
BMS Auditing is an accredited ICV certifying body. Driven by a vastly experienced ICV team, we do more than assisting clients get their certification—we offer customized guidance on how the ICV system works and share invaluable insights that go a long way in helping you score better in subsequent renewals.
Get ICV Certified and Grow on All Fronts with BMS Auditing
Align your company with the UAE's national goals and unlock new growth opportunities through ICV certification.
Call BMS Auditing today to start your journey to growth, sustainability, and unprecedented business success!
