Dubai, UAE: 15 June 2023 – The Ministry of Energy and Infrastructure (MoEI) has joined the National In-Country Value (ICV) Program following a memorandum of understanding with the Ministry of Industry and Advanced Technology (MoIAT). The MoU was signed in the presence of His Excellency Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and His Excellency Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure.
Under the MoU, the two ministries will cooperate to implement the program, which was launched as part of the Projects of the 50. MoEI will apply the National ICV standard to all its procurement activities and contracts.
The MoU was signed by His Excellency Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology, and His Excellency Eng. Hassan Mohammed Al Mansouri, Undersecretary for Infrastructure and Transport Affairs at the Ministry of Energy and Infrastructure.
The signing supports national strategic objectives to boost the growth of the industrial and advanced technology sectors and to enhance the competitiveness of national supply chains. It aligns with the National ICV Program’s aims to enhance economic growth by redirecting government expenditure into the national economy.
The program includes products and services procured from locally based companies. In addition, the program aims to create quality job opportunities in the UAE.
Empowering the industrial sector
His Excellency Omar Al Suwaidi said: “As part of its strategy to empower the industrial sector, increase investment attractiveness and develop national capabilities, MoIAT is launching an integrated ecosystem of programs, initiatives and projects that support the growth and development of the industrial sector. This ecosystem includes the National ICV Program, which aims to enhance the capabilities and revenues of certified companies by increasing the demand for local products and services. This contributes to the growth of the industrial sector, creates quality job opportunities and provides incentives to adopt advanced technologies. It also supports the Make it in the Emirates initiative."
He added: “The program, which is being implemented under the National Strategy for Industry and Advanced Technology, aims to enhance the capabilities of local certified suppliers by increasing the demand for local goods and services.”
Al Suwaidi stressed that the National ICV Program has achieved remarkable success since its inception. Last year, manufacturers’ spending in the national economy reached AED 53 billion, a 25 percent increase compared to 2021. By joining the program, MoEI will help expand the program to include new sectors such as infrastructure, transport, and housing, among others.
His Excellency Eng. Hassan Mohammed Al Mansouri said: “We are pleased to join the National ICV Program and implement its standard in our infrastructure and housing construction and maintenance projects as well as the transport sector. It aligns with our endeavors and commitment to supporting national industries, creating a favorable business environment, and contributing to the growth of the UAE's GDP.”
He added: “As per the MoU, we will prioritize ICV certified companies in the procurement process to increase demand for their products and services and contribute to their development, as well as create robust supply chains and new jobs.”
MoIAT welcomed several new entities to the National ICV Program in 2022, bringing the total number of members to 26 federal and local government agencies and corporations.