The UAE’s National ICV Program has been expanded to encompass Ras Al Khaimah and Fujairah, as part of the country’s efforts to support domestic companies and strengthen local supply chains by redirecting government procurement to UAE-based businesses.
By redirecting government procurement in Ras Al Khaimah and Fujairah, the National ICV Program aims to achieve several objectives. These include strengthening value chains, developing new local industries and services, stimulating and attracting investment, diversifying the economy, increasing domestic manufacturing, and creating quality job opportunities.
The Ministry of Industry and Advanced Technology (MoIAT) signed agreements with the Department of Finance in Ras Al Khaimah and the Department of Industry and Economy in Fujairah to join the National ICV Program. UAE MoIAT oversees the National ICV Program, which was launched as one of the Projects of the 50.
“The expansion of the National ICV Program contributes to increasing the competitiveness of local products and services and promotes the growth of the industrial sector and its related sectors. The program is a key pillar of the national strategy for industry and advanced technology and promotes the competitiveness of the UAE’s industrial sector. This represents an important contribution to the country’s economic diversification strategy. The MoUs with the governments of Ras Al Khaimah and Fujairah will support cooperation and integration between federal and local government entities. These partnerships further strengthen national supply chains and support self-sufficiency in priority and strategic industries. Today, the program includes more than 45 federal government entities including ministries, federal entities, in addition to 17 major national companies.”
“The expansion of the National ICV Program supports the goals of the Make in the Emirates campaign, which was launched by the ministry to attract investments and promote sustainable industrial development. The campaign highlights the opportunities that the UAE’s industrial sector provides to international investors and showcases the UAE’s competitive advantages. The campaign supports the adoption of advanced technologies in the industrial sector through the Industry 4.0 program, which was launched to enhance the contribution of the industrial sector to national GDP,” the UnderSecretary noted.
Mr. Al Suwaidi further noted that the program’s expansion represents growth opportunities for companies in various sectors, including medical technology, advanced industries, hydrogen, heavy industries, food and beverages, agricultural technology, pharmaceuticals, electronic equipment, machinery and plant equipment, petrochemicals, chemical products, and rubber and plastics, among others.