The National In-Country Value (ICV) Program aims to boost economic performance and support local industries by redirecting higher portions of public spending into the national economy.
The ICV Programme is implemented under the supervision of Ministry of Industry and Advanced Technology (MoIAT).
The programme aims to achieve the following goals:
- strategic localisation of supply chain
- development of new local industries and services
- stimulating and attracting foreign investments
- diversifying the economy
- creating valuable job opportunities in the private sector
- contributing to the growth of the national GDP
- enhancing spending on research and development (R&D) and advanced technology
- increasing the private sector’s contribution to national GDP.
The ICV exists within a wide network of stakeholders that include:
1. The ICV certifying bodies that are authorised by MoIAT to conduct a technical review on the requests for ICV certification submitted by the companies. They issue ICV certificates according to MoIAT’s requirements.
2. The ICV certified companies that obtain the ICV certificate from the ICV certifying bodies.
The ICV certificate is issued to certified companies after evaluating their contribution to the local economy. Certified companies gain advantages during the awarding of tenders and contracts based on their ICV score.