A creative new Green ICV criteria and bonus within the National In-Country Value (ICV) Program
The Ministry of Industry and Advanced Technology (MoIAT) has introduced new Green ICV criteria and bonuses within the National In-Country Value (ICV) Program to promote sustainability across various supply chains.
The National In-Country Value (ICV) Program, initiated in the UAE, is a key initiative aimed at boosting economic performance and supporting local industries by directing a larger portion of public spending into the national economy. The ICV Program encourages businesses to increase their contributions to the local economy by fostering indigenous industry growth, creating job opportunities, and promoting economic diversification.
A primary objective of the ICV Program is to incentivize businesses to prioritize local sourcing, manufacturing, and employment practices. Companies can improve their ICV scores by enhancing their local economic contributions, thereby increasing their eligibility for government contracts and procurement opportunities. The ICV score evaluates a company's contribution to the UAE's economic development by considering factors such as local spending, Emiratization, and investment in technology and innovation.
Under the new criteria, companies can earn bonus ICV points by committing to sustainability-related standards and policies. They can receive up to a 3% bonus on their overall ICV score, enhancing their competitive edge in procurement processes.
Companies and manufacturers are evaluated based on their sustainability practices, water management, circularity, and emissions reduction. Additional rewards are available for obtaining ISO certificates related to sustainable practices and for securing Green Industries Environmental Labelling from the Environment Agency in Abu Dhabi.
This initiative aims to enhance the competitiveness and sustainability of the national industrial sector in line with the National Strategy for Industry and Advanced Technology, Operation 300bn, and the 'We the UAE 2031' goals. It supports self-sufficiency, industrial security, added value in the UAE, national industry competitiveness, and emissions reduction. By incentivizing companies to contribute to the UAE's Net Zero by 2050 strategic initiative and implementing circularity, the new bonus promotes national sustainability efforts.
Only ICV-certified companies can apply for the new criteria by demonstrating their commitment to sustainability standards and policies. Applications will be independently evaluated.
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