Overview:In-Country Value (ICV) is economic value added from local operations and spend retained in the country. ICV is measured using a formula that captures how much out of your revenue you contribute back into the economy. This formula specifically measures the retained in-country contribution from local purchases, developing local human and business capabilities, and establishing capital investments.
ICV rewards bidders based on their contribution as it provides them with a commercial advantage when bidding for a tender in the Energy sector.
As part of “Projects of the 50”, the UAE government has launched the In-Country Value Program (ICV) on a federal level, which will be implemented under the supervision of the Ministry of Industry & Advanced Technology, contributing to increased demand on local goods and services, promoting local capabilities and attracting foreign direct investment towards the local industrial sector. The ICV program witnessed great success since its launch in the emirate of Abu Dhabi in 2018.
Target Participants:This training is designed for Anyone interested in know about In-Country Value (ICV).
Objectives:By the end of this course, participants will be able to:
- Understand ICV Background.
- Understand ICV Strategy, Structure, and Work groups.
- Describe Tender Process within ICV context.
- Understand ICV plan and implementation process.
- Develop skills to Evaluate tenders.
- Provide an overview of global local content.
- Provide an overview of ICV in the O&G Sector.
- Develop the skills needed for professionals to integrate ICV into contract tenders.
- ICV plan, tender evaluation and ICV monitoring and reporting.
- Develop a thorough knowledge on ICV in ITTs and how to develop an ICV plan.
- Aims and Definitions.
- Awareness of global local content.
- Background of ICV.
- Overview of ICV standardization.
- Integration of ICV in tendering.
- ICV ITT Questionnaire.
- ICV ITT Exhibit/Articles.
- ICV exercise (case study).
- Continuation of case study.
- Contract Weightings.
- Evaluating the ICV Plan.
- Exercise (2): Evaluation of ICV plan.
- ICV Monitoring and Reporting.
- Role of Contract Engineers and Contract Holders/Owners.
- Adopting ICV Standard.