UAE: ICV certification fee reduced for SMEs registered in National Programme

UAE: ICV certification fee reduced for SMEs registered in National Programme

The Ministry of Industry and Advanced Technology (MoIAT) in cooperation with the Ministry of Economy (MoE) has reduced the fee for companies registered in National Programme for Small and Medium Enterprises (The National Programme for SMEs) to obtain a National In-Country Value (ICV) certificate. The new incentive aims to encourage companies registered in The National Programme for SMEs to join the ICV programme in line with the objectives of the National Strategy for Industry and Advanced Technology to promote the growth and sustainable development of the national economy. The move supports MoIAT’s efforts to create an attractive business environment for local and international investors as well as support the growth and competitiveness of national industries. Companies registered with MoE's National Programme for SMEs will be able to receive their certification in the National ICV Programme for a reduced fee of AED 500. Through joining the National ICV Programme, SMEs can enhance their competitiveness in tenders with government and major companies, helping to boost their growth. The National ICV Programme has contributed significantly to the UAE’s economy since it was launched in 2021. Last year, the programme redirected AED 53 billion into the economy, a 25 percent increase on 2021. MoIAT