Abu Dhabi, UAE: 14 September 2022 - The National Committee for the In-Country Value (ICV) Program, headed by the Ministry of Industry and Advanced Technology (MoIAT), has announced the launch of a new digital platform for companies to obtain the national ICV certificate.
Supported by artificial intelligence technology, the new platform is in line with the ministry’s strategy to empower the industrial sector and develop future industries in the UAE. The national industrial strategy, Operation 300 Bn, aims to create a business environment that attracts local and international investors, while stimulating innovation and the adoption of advanced technology.
The new platform provides several advantages, most notably automating the certification process, which can save companies up to 40 percent in time and costs.
The platform utilizes blockchain technology. It includes a bidding process feature, which enables users to select the certifying body, in addition to a feature that notifies the Emirates Development Bank of users interested in the incentives offered by the bank. It also provides standardized taxonomy to improve data input quality. The digital platform allows users to view the status of their application, enhancing governance and transparency.
The ICV Program is one of the main pillars of the ministry’s strategy to enhance the local, regional, and international competitiveness of national products and services. The program aims to increase the number of ICV-certified companies and increase spend towards Emirati products and services from AED33 billion in 2020 to AED55 billion by 2025.
Proactive Solutions to Boost Efficiency
His Excellency Omar Al Suwaidi, Undersecretary of MoIAT and Chairman of the National Committee for the In-Country Value Program, said: “The new platform is in line with the UAE Government Charter for Future Services, providing digital services in a seamless manner through a unified digital interface that meets human needs, lifestyle, and future. This is what the ministry is focused on through adopting the highest level of innovation and digitalization to boost efficiency.”
“The new digital platform embodies MoIAT’s innovative approach to empowering the industrial sector, enhancing its in-country value, and facilitating the adoption of technology to boost productivity and reduce resource consumption.”
His Excellency called on all local companies to take advantage of the new digital ICV platform, stressing that it can enhance their competitiveness and help them to expand by developing advanced industries and services.
His Excellency added: “We are committed to comprehensively developing our services to keep pace with the next 50 years, in line with our national priorities. The ministry is continuously developing the platform to achieve customer satisfaction and is open to receiving feedback on the platform from companies to help enhance the user experience.”
The National ICV Program, which was announced as one of the UAE’s Projects of the 50, is one of the key pillars of the UAE’s National Strategy for Industry and Advanced Technology. It aims to redirect billions of dirhams worth of spending from government and large private companies to the local companies, and it is an important contributor to the UAE’s economic diversification strategy. In 2021, the program succeeded in redirecting more than AED41 billion of spend into the national economy.
The program has also witnessed a remarkable expansion since it launched on a national level, with more than 45 federal and local government entities, 17 leading national enterprises joining the program, and more than 5,300 ICV-certified companies. The National ICV Program offers growth opportunities for companies in priority sectors, such as heavy industries, space technology, hydrogen, medical technology, advanced manufacturing, food and beverages, agri-tech, pharmaceuticals, electronic equipment, machinery and equipment, petrochemicals, and rubber and plastics.