While the ICV program is not mandatory for all businesses, it is essential for companies that wish to participate in tenders or secure contracts with ICV-compliant entities, including government bodies and major industry players. It’s highly recommended for companies aiming to enhance their competitiveness in the UAE market.

ICV verification is the process of reviewing and validating a company’s financial data, workforce details, and local procurement records to calculate its ICV score. The process ensures transparency and accuracy in reporting contributions to the UAE’s economy.

The cost of obtaining an ICV certificate depends on the certifying body, the size of the business, and the complexity of the verification process. Prices typically range from AED 5,000 to AED 15,000, though it’s advisable to get a quote from an authorized certifying body.

ICV certification enhances a company’s eligibility to participate in tenders with government entities and large organizations. It demonstrates commitment to the UAE’s economic goals, helps secure preferential treatment in procurement, and fosters stronger relationships with key industry players. Additionally, it opens doors to long-term partnerships and business growth opportunities.