Sharjah 24: The Ministry of Industry and Advanced Technology and the Ministry of Finance have announced they have started implementing the In-Country Value Programme on the procurement policies of all 45 federal government entities, including ministries, federal authorities and institutions.

The aim of the programme, which was launched as part of the "Projects of the 50", is to stimulate the industrial sector in the UAE, enhance its competitiveness and support the country’s future economic diversification plans.

The announcement came during a media briefing in Abu Dhabi in the presence of Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology. It was followed by an introductory session on the mechanisms of applying the programme to all types of purchases – including services and products – for all federal authorities, which was attended by Omar Suwaina Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology, and a number of officials and representatives of the two ministries and members of the media.

Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, affirmed the commitment of the Ministry of Finance to support and implement all programmes and projects that enhance the country’s global competitiveness and achieve the sustainable growth of the national economy. He added that the ICV Program represents one of the priorities of the "Projects of the 50", as it will support the industrial sector, upgrade its capabilities and enhance its contribution to economic diversification efforts.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said: "In line with the wise leadership’s vision to empower national industries, enhance their competitiveness and increase their growth and development prospects, the ICV Program was launched at the federal level in 2021. The program witnessed an encouraging response from large institutions and companies in the country, now totaling 13 entities, who wished to support the integrated strategy of the Ministry of Industry and Advanced Technology and the enabling and supportive national programs."

He added that the programme, which will be implemented through the collaboration of the Ministry of Industry and Advanced Technology, the Ministry of Finance and private sector institutions, will stimulate the growth of the industrial sector and enhance its competitiveness. As a priority element of the Projects of the 50, the programme will benefit the country’s industrial and manufacturing sectors, and thus enhance the role of the industrial sector in supporting the UAE’s economic diversification plans and preparation for the future.

Officials from the two ministries provided information on the procedures and requirements for implementing the program at the federal level, and shone a light on its positive repercussions for the national economy. They also explained the nature of the partnership between the two ministries during implementation and the advantages that companies in the program it will obtain through working with federal government entities.

The new ICV guidelines go hand in hand with digitalising the procurement platform, simplifying supplier procedures in the registration process and reducing fees. Online bidding has also been introduced to offer the best prices in an easy manner, in addition to encouraging SMEs to participate in bidding by granting them special privileges.

In response to journalists' questions, the speakers explained the step required to join the program. It begins by filling out the application form in accordance with the guidelines and supplying audited financial statements, before selecting one of the authorized certification companies to issue the certificate. They also indicated that the required time period will differ from one company to another and from one supplier to another according to the size of the company and the number of its employees, and the company's readiness in terms of submitting the required documents to certification companies.

The officials also touched on the fees for joining the programme, the validity period of the certificate, and other technical and procedural details.

Part of the "Projects of the 50", the UAE government launched the In-Country Value Programme at the national level to be implemented under the supervision of the Ministry of Industry and Advanced Technology. The program will contribute to increasing the demand for products and services of Emirati companies and suppliers, promoting the capabilities of local companies, and attracting more foreign investments to the industrial sector in the country.

The In-Country Value Program makes a positive contribution to the UAE’s industrial sector and the national economy as it enhances the business environment in the industrial sector. This has been clearly demonstrated by a number of large companies localizing the value chains of their businesses and achieving remarkable success in this regard. The program also helps increase investment in industry, as well as economic activities related to it, which will spur comprehensive growth in the country’s GDP.