In Qatar, the government has implemented the In-Country Value (ICV) program to enhance economic diversification, create job opportunities, and develop local industries. ICV certification plays a crucial role in promoting localization, ensuring sustainable growth, and maximizing the participation of local businesses in various sectors. This article serves as a comprehensive guide to understanding the In-country value Qatar certification and navigating the certification process.
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Understanding ICV Certification: ICV certification is a systematic process that evaluates and measures the extent of a company’s contribution to the Qatari economy. The certification is based on the ICV score, which determines the company’s eligibility for government contracts, tenders, and other business opportunities. The ICV score reflects a company’s commitment to local procurement, workforce development, in-country spend, and technology transfer.
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ICV Certification Criteria: To obtain ICV certification, companies must meet specific criteria across various domains. These criteria include local procurement, local value-added activities, local workforce development, and local in-country spend. The ICV program encourages companies to establish long-term partnerships with local businesses, invest in technology transfer, and actively engage in the development of local skills and capabilities.
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Local Procurement: Companies seeking ICV certification are required to prioritize local suppliers and vendors for their procurement needs. The ICV program promotes the growth of local businesses by encouraging companies to establish partnerships and source goods and services from within Qatar. The percentage of local procurement is a significant factor in determining the ICV score.
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Local Value-Added Activities: The ICV program encourages companies to undertake value-added activities within Qatar. This involves expanding local manufacturing capabilities, conducting research and development activities, and investing in innovation and technology transfer. By engaging in these activities, companies contribute to the long-term economic growth and development of the country.
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Local Workforce Development: One of the key objectives of the ICV program is to foster the development of local talent. Companies seeking ICV certification must invest in training and development programs to enhance the skills of the Qatari workforce. This can include providing vocational training, internships, apprenticeships, and scholarships to local students. Companies are also encouraged to promote career advancement opportunities for Qatari nationals.
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Local In-Country Spend: The ICV score is influenced by a company’s expenditure within Qatar. It encompasses various factors such as local taxes, royalties, social contributions, and investments in local infrastructure and services. By maximizing their in-country spend, companies contribute to the overall economic development and welfare of the Qatari society.
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ICV Certification Process: The ICV certification process involves registering with the Ministry of Commerce and Industry and submitting the necessary documentation. Companies are required to provide detailed information about their operations, procurement practices, workforce development initiatives, and financial records. An evaluation is conducted to determine the company’s ICV score, and the certification is issued accordingly.
Conclusion: ICV certification is a significant aspect of doing business in Qatar. It promotes localization, fosters economic growth, and provides opportunities for local businesses to thrive. By understanding the ICV program’s requirements and following the certification process, companies can enhance their eligibility for government contracts and contribute to the development of Qatar’s economy. The ICV program reflects Qatar’s commitment to sustainable development and diversification, creating a favorable business environment for both local and international companies.