In Country Value Program (ICV)
Businesses with an In-Country Value (ICV) certificate get more attention when they bid for projects because it shows their support for the local economy. HLB HAMT is a top provider of ICV certification in the UAE and is recognized by the relevant authorities. We don’t just provide certificates; we also work closely with our clients to understand their needs, help them calculate their ICV, and suggest ways to improve their business and operations.
New ICV Certification Update!
“Effective January 1, 2025, All ICV certificates issued for financial years ending after December 31, 2024, must include stand-alone audited financial statements specific to the entity being certified.”
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Role of HLB HAMT as an ICV Certification Provider in the UAE
As a certified ICV certification provider, HLB HAMT plays a vital role in helping businesses manage the In-Country Value (ICV) certification process. Here’s how we assist our clients:
Expert Guidance
We offer clear guidance to businesses on the entire certification process, ensuring a clear understanding of the necessary steps and documentation required.
Financial Document Preparation
Our team assists clients in compiling and reviewing their audited financial statements or management accounts to ensure compliance with International Financial Reporting Standards (IFRS).
ICV Template Assistance
We provide support in accurately completing the ICV template, ensuring adherence to the guidelines established by the Ministry of Industry and Advanced Technology (MOIAT).
Efficient Application Submission
HLB HAMT facilitates the submission of the ICV template and all supporting documents to itself as the certifying body, ensuring completeness and correctness throughout the process.
Evaluation Preparation
We prepare businesses for the evaluation phase, ensuring that all information meets our standards for review.
Communication Facilitation
We act as intermediaries for our clients, effectively managing any queries or requests for additional information during the approval process.
Issuance of ICV Certificates
Upon approval, we issue the ICV certificate, confirming the company’s contribution to local economic growth and compliance with relevant requirements.
Conducting ICV Audits
As certified auditors, we conduct ICV audits to verify compliance with MOIAT’s certification program requirements, helping businesses identify and resolve any operational gaps.
To Whom Does an ICV Certificate Provider Issue ICV Certificates?
ICV Certificate providers, such as HLB HAMT, issue ICV Certificates to a diverse range of organizations that comply with the ICV requirements, including:
Tier 1 Suppliers
These suppliers directly provide goods and services to partners in the National ICV Program. They may need to disclose their ICV score, which is vital for tender evaluations.
Tier 2 and Below Suppliers
Suppliers at this level may also be required to produce their ICV certificates to remain competitive in bids against Tier 1 suppliers.
ADNOC Suppliers and Contractors
All suppliers and contractors that work with the Abu Dhabi National Oil Company (ADNOC) and its subsidiaries are required to obtain ICV Certification. This includes drilling contractors, engineering firms, and logistics providers.
Companies Seeking Government Contracts
The ICV Certification program is also applicable to organizations in other sectors wishing to conduct business with the UAE government, including industries such as construction, transportation, and healthcare.
Looking to obtain your ICV certification in UAE?
Our team at HLB HAMT, an ICV Certification Provider, is ready to support you through the entire process.
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Frequently Asked Questions
Audits are critical for ensuring financial transparency and compliance for businesses in the UAE. At HLB HAMT, our audit services are designed to meet the unique needs of your organization while adhering to global standards. The key purposes of conducting audits include:
How can HLB HAMT help my business with ICV certification?
At HLB HAMT, we help you understand everything about ICV Certification. Our friendly and professional team will guide you through each step, making sure you know what to do and when to do it.
What documents do I need for the ICV application in UAE ?
We know getting documents together can be tricky. We’ll help you gather your financial statements and ensure they meet all the rules in the UAE, so you can focus on your business.
Can you help me understand if my company can get an ICV certificate?
We are here to help you figure out if your business qualifies for an ICV certificate. Whether you are a Tier 1 supplier or a contractor, we’ll explain everything you need to know.
What happens after I get my ICV certificate?
When you receive your ICV certificate, it shows your business supports the local economy. We will help you use this certificate to win more projects, and we are always here if you need more help.