The United Arab Emirates will kick-off a new public-private partnership journey with the recently launched National In-Country Value Program, which seeks to redirect public- and private-sector procurement to the national industrial sector to support its growth.
Having been endorsed and approved by the UAE Cabinet, the National In-Country Value Program is expected to boost the growth of several economic sectors. The program's implementation at the federal level follows the success of a local scheme in 2018, which was able to redirect around AED88 billion to the local market and enroll approximately 5,000 suppliers.
In preparation for the federal roll-out, the Ministry of Industry and Advanced Technology signed memoranda of understanding with 21 companies that are certified to issue National ICV certificates. In addition, the Ministry signed three memoranda of understanding with Etisalat, Emirates Steel and TAQA, who became the first three large national companies to sign up to the program and mark their commitment to the national economy.
These MoUs will strengthen public-private-sector collaboration and, as such, are pivotal to achieving the objectives of the National ICV Program, a pillar of the National Strategy for Industry and Advanced Technology's goal of positioning the UAE as a regional and international industrial hub.
The National ICV Program ensures that local suppliers that have been successfully registered and certified are prioritized in government procurement procedures. This will ensure reinvestment into the national economy and enable UAE companies to benefit from the growing demand for local products and services and expand their businesses. The program will also encourage the adoption of advanced technologies and fourth industrial revolution applications, ensuring high-quality products and services as well as sustainable and secure supply chains.