Business & Money | Tuesday 23 April, 2019 3:30 am |

Deloitte has signed a Memorandum of Understanding (MoU) with ADNOC on April 1, 2019 at ADNOC HQ Abu Dhabi to become one of ADNOC’s Certifying Bodies (CBs) for its In-Country Value (ICV) Program.

 

As part of the ADNOC ICV Program, ADNOC’s suppliers are required to declare their ICV achievement for the previous financial year. ADNOC requires a third-party verification of the numbers in the ICV Certificate to be conducted by one of its Certifying Bodies on an annual basis. The ICV assessment will form an integral part of ADNOC’s tender evaluation and award process.  The criteria will assess suppliers’ ICV score, which includes goods manufactured, third party spend, investment and Emiratization, among other elements.

 

“The launch of ADNOC’s In-Country Programme was a critical step in catalysing our nation’s progress and development. We’re pleased with the constructive and positive feedback we’ve received from our partners and suppliers this past year, and we look forward to driving even more in-country value in the years ahead. That is why we’re proud to be deploying a total of 12 leading certification companies – some local, others global – all experts in their field, committed to serving our community of suppliers as they help us advance our In-Country Value Programme’s mission to drive national prosperity and growth,” said Rashed Saud Al Shamsi, Business and Commercial Support Director at ADNOC.

 

“Deloitte is honored to be one of ADNOC’s certifying bodies, working closely with ADNOC to implement this program across the United Arab Emirates,” said Mutasem Dajani, Managing Partner, Deloitte United Arab Emirates. “Verifying suppliers’ ICV performance and ascertaining they meet ADNOC’s requirements will drive opportunities for local businesses in the Emirates in line with ADNOC’s 2030 growth strategy,” he added.

 

The ICV program was launched in January 2018 for ADNOC Group Companies with the objective of creating additional employment opportunities for Emiratis in the private sector, and supporting the Emirate’s GDP diversification through sourcing more goods and services within the UAE. Another objective of the ICV program is localizing strategically critical parts of the value chain for selected categories.