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ICV Program
Small and medium enterprises (SMEs) are viewed as the ‘engine’ for economic growth and a vital contributor to the economy’s GDP. They are a primary source of entrepreneurship, innovation and employment creation.
UAE SME acknowledged the importance of the SME community and its critical role in developing and diversifying the economy by formulating and advocating a clear and comprehensive definition of SMEs in Dubai in 2009. This definition was a first of its kind in the UAE. With a common language to define SMEs (based on turnover and employment size).
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ICV Program
A program has been introduced as an In Country Value (ICV) for the suppliers. This program led initiative aims to boost ICV contribution by focusing on local supplier selection, development of UAE Nationals, and the localisation of critical functionalities in the oil and gas industry. From 1 April 2018, all suppliers of goods or services are required to calculate and declare their certified ICV score for the previous financial year, to demonstrate how they help to deliver ICV. Certification of ICV score needs to be completed by an approved certifying body, such as PWC, on an annual basis and submitted by supplier with each proposal they make.
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ADNOC
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UAE Army
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Abu Dhabi Government
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UAE Federal Government
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