More than Dh100 billion has been redirected to the local economy since MoIAT and Adnoc launched major ICV programmes

Since the primary in-country value (ICV) schemes to boost domestic companies were established by the UAE Ministry of Industry and Advanced Technology (MoIAT) and Adnoc, more than Dh100 billion has been diverted to the local economy.

Abdulla Al Shamsi, Assistant Undersecretary of MoIAT, reported that more than Dh53 billion in investment was diverted to the local economy in 2022, representing a year-over-year growth of 25%, during the Make in the Emirates event held in Abu Dhabi. He emphasised how there were just three entities in the National ICV Programme when it first started, but there are now 26. 

Adnoc's in-country value programme, which MoIAT expanded statewide in 2021, served as the foundation for the program's success.