for suppliers who have a local commercial register, except companies that were established at least two years ago or less according to their commercial registration.

the economic value added from local operations and spending within the country. Local value is measured using a mathematical equation that shows the amount of revenue contribution to the economy. This mathematical equation specifically measures the amount of contribution made locally from local purchases. Developing human capabilities. The capabilities of local business institutions, and creating capital investments. The local value rewards bidders based on the extent of their contribution. As it provides them with an advantage in terms of financial evaluation when submitting bids for tenders in the energy sector.

The local value program was designed 

the framework of the “Zs chartered accountants” initiative in support of achieving the Dubai National Vision 2030 By advancing the implementation of localization plans in the sector to create the maximum possible sustainable local value. Honing the skills of local talent. Developing local suppliers. And encouraging the private sector to invest. locally.

the procurement process. As well as spending by suppliers. Who must align their sourcing strategy, as the financial assessment will be made according to the supplier’s competitive price and its In-Country Value record?

Local value contributes to encouraging local businesses to develop local sources and expand their scope and business continuity, which in turn leads to reducing dependence on imported goods and services and results in achieving savings in logistical costs and shortening the period between demand and supply.

ICV also stimulates the development capabilities of local suppliers. As a supplier’s cost of developing its sub-suppliers is fully accounted for in its icv certificate register. In addition to supporting Dubai’s ability to compete on the global level. As local value contributes to encouraging exports; Export revenues are excluded from the calculation of domestic value. Which results in enriching the domestic value record.

the local value icv certificate

are as follows: First: Registration: The supplier registers through the local value digital. Second: Communication: The supplier contacts one of the previously approved bodies to certify the local value. Third: Submission: The supplier completes the local value record and submits it to the local value certifying body. Fourth: Verification: The certifying body verifies the validity of the local value submission form using the required supporting documents.

The impact of the local value register

on the procurement process is as follows: The bidder submits the certificate of ratification of the local value register within the documents. The icv certificate Registry plays a key role in the commercial evaluation of selecting the winning

The local value plan provides a future vision-based

the planned spending by the supplier during the contract implementation period. For specific contracts with the energy sector, the supplier must submit an ICV plan within the tender documents. As a commitment that must be achieved at the end of the contract. The ICV plan should be certified by an ICV-certifying body at the end of the contract. The winning bidder is awarded a reward in appreciation of his commitment. The impact of the local value plan on the procurement process is as follows: The bidder submits the completed local value plan form within the bidding documents. The submitted local value plan plays a key role in the commercial evaluation of selecting the winning bidder. In contrast. Local value certification is an audit of the supplier or contractor’s local value record by one of the independent certification bodies accredited by Zs chartered accountants. The purpose of ICV certification is to: ensure the validity and accuracy of the information provided by suppliers regarding their contribution to ICV. And to ensure that suppliers’ ICV record

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