DUBAI – The Ministry of Energy and Infrastructure (MoEI) has joined the National Domestic Value (ICV) program after signing a memorandum of understanding with the Ministry of Industry and Advanced Technology (MoIAT).
The MoU was signed in the presence of Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology; Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure.
Under the MoU, the two ministries will collaborate in implementing the scheme, which was launched as part of the 50 project. The MoEI will apply the national ICV standard in all its procurement activities and contracts.
The MoU was signed by Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology; and Engineering. Hassan Mohammed Al Mansouri, Undersecretary for Infrastructure and Transport at the Ministry of Energy and Infrastructure.
Empowering the Industrial Sector
The MoU supports national strategic objectives to foster growth in the industrial and advanced technology sectors and enhance the competitiveness of the country’s supply chains. It is in line with the National ICV Program’s objective of promoting economic growth by redirecting government spending back into the national economy.
The program includes products and services sourced from local companies. In addition, the program aims to create quality job opportunities in the UAE.
Al Suwaidi said, “As part of its strategy to empower the industrial sector, increase investment attractiveness and develop national capabilities, MoIAT is launching a comprehensive ecosystem of programmes, initiatives and projects to support the growth and development of the industrial sector. The ecosystem includes a national ICV program aimed at enhancing the capabilities and income of certified companies by increasing demand for local products and services. This contributes to the development of the industrial sector, creates quality jobs, and provides an impetus for the adoption of advanced technologies. It also supports the Make it in the Emirates initiative.”
“The program is implemented under the National Industrial and Advanced Technology Strategy and aims to empower local certified suppliers by increasing demand for local goods and services,” he added.
expand into new territories
Al Suwaidi emphasized that the national ICV program has achieved remarkable success since its inception. Manufacturers spent AED53 billion in the national economy last year, a 25 percent increase over 2021. By joining the program, MoEI will help expand the program to include new areas such as infrastructure, transportation and housing.
project. Hassan Mohammed Al Mansouri said: “We are delighted to join the National ICV scheme and implement its standards in our infrastructure and housing construction and maintenance projects, as well as in the transport sector. It is in line with our commitment to support national industries, create a conducive business environment and contribute to the UAE’s GDP growth The effort and commitment to contribute.”
He added: “Under the MoU, we will give priority to ICV-certified companies in the procurement process to increase demand for and contribute to their development for their products and services, while creating a strong supply chain and new jobs. Chance.”
MoIAT welcomes several new entities to the national ICV program in 2022, bringing the total membership to 26 federal and local government agencies and companies.