A digital platform powered by artificial intelligence was developed by the national committee for the In-Country Value (ICV) program, which is overseen by the UAE Ministry of Industry and Advanced Technology (MoIAT), to assist businesses in obtaining the national ICV certificate. The government stated in a statement on Wednesday that the new platform has many benefits, including automating the certification process, which can reduce time and costs for businesses by up to 40%.
The platform will allow users to view the status of their application and enhance governance and transparency. It aims to empower the industrial sector and develop future industries in the Emirates.
“The new platform is in line with the UAE Government Charter for Future Services, providing digital services in a seamless manner through a unified digital interface that meets human needs, lifestyle and future,” Omar Al Suwaidi, undersecretary of MoIAT and chairman of the national committee for ICV programme, said.
“The new digital platform embodies MoIAT’s innovative approach to empowering the industrial sector, enhancing its in-country value, and facilitating the adoption of technology to boost productivity and reduce resource consumption,” Mr Al Suwaidi said.
The platform also utilises blockchain technology. It includes a bidding process feature, which enables users to select the certifying body, in addition to a feature that notifies the Emirates Development Bank of users interested in the incentives offered by the bank.
The ICV programme, part of the UAE’s Projects of the 50 that was launched in September, aims to boost the growth of UAE-based industries by redirecting half of government spending on procurements and tender contracts into the national economy by 2031. Last year, it redirected more than Dh41 billion ($11.2bn) of spend into the national economy.
The program aims to increase the number of ICV-certified companies and increase spend towards Emirati products and services from Dh33bn in 2020 to Dh55bn by 2025.
It has expanded significantly since its launch, with more than 45 federal and local government entities and 17 national companies having signed up for it.
It offers growth opportunities for companies in priority sectors, such as heavy industries, space technology, hydrogen, medical technology, advanced manufacturing, food and beverages, AgriTech, pharmaceuticals, electronic equipment, machinery and equipment, petrochemicals, and rubber and plastics.
Last year, the UAE announced Operation 300bn, a 10-year strategy to increase the industrial sector’s contribution to the country’s gross domestic product to Dh300bn and strengthen the Make it in the Emirates initiative. Both initiatives have the goal of transforming the nation into a manufacturing powerhouse.
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