The Ministry of Industry and Advanced Technology (MoIAT) and Abu Dhabi’s Department of Economic Development (ADDED) will work on proposing and preparing policies, strategies and legislation to promote Emirati products, local industrial output and in-country value (ICV).
This plan of action is in line with the objectives of the National Strategy for Industry and Advanced Technology, Operation 300bn, local media report said, quoting Omar Suwaina Al Suwaidi, Undersecretary at MoIAT.
The new push for the promotion of Emirati products came after MoIAT signed an MoU with ADDED and ADNOC to enhance federal and local cooperation in support of the National In-Country Value (ICV) program, which is supervised by MoIAT.
The National ICV program seeks to redirect more than 42 percent of public-sector and select private-sector procurement and service expenses towards local suppliers by 2025.
The MoU supports efforts to stimulate entrepreneurship in priority sectors and future industries enhanced by advanced technology and 4IR solutions, which will boost operational efficiency and the competitiveness of UAE-made products in regional and global markets, the reports said.
Al Suwaidi, according to the reports, said the National ICV program offers several competitive advantages, including increased demand for local products and services, financial support, and opportunities for partnerships with foreign companies seeking to benefit from a joint supply chain.
Also, under the MoU, the National ICV program standards and criteria will be applied to all types of procurements and contracts for goods and services in government procurements within Abu Dhabi.
The reports said that the two sides will form a working committee to evaluate and discuss the requirements for implementing the program and providing the necessary technical support for companies seeking to achieve National ICV certification.