The ICV Certification program has seen significant success since its launch. The initiative not only promotes GDP diversification but also allows suppliers to obtain contracts from semi-government and government organizations.
Key Objectives of the Program
The goal of the National ICV certification program is to support the development of the domestic industry by lowering reliance on imports and initiating additional programs like financial incentives. The goal of the ICV program is to boost domestic industry and reroute money spent on purchasing products and services to the country’s economy. The following are the program’s main goals:
- Localizing supply chains strategically and creating new local businesses and services.
- Increasing exports, diversifying the economy, and luring in foreign investment.
- Creating worthwhile work possibilities in the private sector.
- Assisting in the rise of the national GDP.
- Increase investment in R&D and cutting-edge technology.
- Increase the private sector’s share in the UAE’s GDP.
UAE ICV Certification Advantages
The ICV certification examines many variables, including investment, Emirati employment, international financing, income from sources outside the United Arab Emirates, and a rise in investment. This program has created a new business line that requires supplies from the United Arab Emirates.
Eligibility for ICV Certification:
The UAE business that wants to get certified under the ICV must meet certain requirements. It’s important to consider the following elements while figuring out if you qualify for an ICV certificate.
- To apply for ICV certification in the United Arab Emirates, companies must typically possess a current trade license and be registered with the appropriate government body.
- They must also be physically present in the United Arab Emirates and working on a product or service.
- The ICV program regulations that apply to each industrial sector specify the standards that businesses must meet to be certified.
- Organizations must fulfill ICV criteria unique to their industry in addition to these basic standards.
Issuance of ICV Certification
The MoIAT-approved professional businesses provide the ICV Certificate’s issuing and verification. These expert companies are known as Certifying Bodies, and they offer ICV certification services in Dubai and other UAE cities.
Also check, ICV Certification Services in UAE
BestaxCA ICV Certification service
To submit their work to certifying authorities, providers must fill out an ICV Certificate Sample form provided by the MoIAT. The most recent financial audit statements must be entered into the ICV Certificate form. This is where Dubai-based ICV certification service providers, such as BestaxCA help businesses. In Dubai, United Arab Emirates, BestaxCA is a top supplier of ICV certification services.
Find BestaxCA, one of Dubai’s top accounting firms, for ICV certification, and get in touch with us right now for more details.
Conclusion
The ICV certificate fosters
