ABU DHABI, (Pakistan Point News - 08th Dec, 2021) The National Committee for the National In-Country Value (ICV) Programme, formed by the UAE Cabinet, held its inaugural meeting to discuss the development of detailed guidelines and criteria for its implementation at the Federal level, as well as the response for applications from large national companies.
The committee, which includes the Ministry of Industry and Advanced Technology (MoIAT), a number of federal and local authorities and national companies, reviewed the programme’s developments and key performance indicators since its launch as part of the "Projects of the 50" in September.
Chaired by Omar Suwaina Al Suwaidi, Under-Secretary of MoIAT, the National Committee also appointed a technical committee to oversee its most important tasks and evaluate the impact on the industrial sector and the national economy of those companies recently joining the programme. It also discussed proposing new incentives, benefits and opportunities to encourage more companies to seek ICV certification, proposing awareness-raising workshops in cooperation with its members, and also looked into ways to stimulate the adoption of advanced technology through the programme.
"Launching the National ICV programme among the ‘Projects of the 50’ falls in line with the strategic goals of the National Strategy for Industry and Advanced Technology. These goals encompass empowering and incentivizing the UAE’s industrial sector, improving its performance and strengthening partnerships and collaboration within the private sector. Under the programme, 42 percent of government spending will be redirected to UAE-based companies by 2025," said Al Suwaidi.
"The ICV programme is expected to reach numerous milestones in that time, including increasing the internal demand for local products and services from AED33 billion currently to AED55 billion, while encouraging local manufacturers to diversify and develop their production to meet that demand. Developing their business models and production methods will also help them meet ICV certification criteria, thus enhancing their chances of partnering with global entities seeking to leverage this opportunity."
The meeting was attended by Younis Al Khoury, Under-Secretary of the Ministry of Finance, Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, Nasser Abdullah bin Kharbash, Under-Secretary for Emiratisation at the Ministry of Human Resources and Emiratisation, and Saed Al Awadi, CEO of Dubai Industries and Exports.
Other attendees included Dr. Abdulrahman Al Shayeb Al Naqbi, Director-General of the Department of Economic Development - Ras Al Khaimah, Sheikha Abdullah Al Shamsi, Deputy Manager of the Department of Economic Development - Umm Al Quwain, Dr. Saleh Al Hashemi, Head of the Department of Commercial Affairs and In-Country Value at ADNOC, and Khaled Mubarak Bani Zama, Director of Industrial Development Department in the Department of Economic Development - Abu Dhabi.
