The UAE’s National In-Country Value programme, headed by the UAE Ministry of Industry and Advanced Technology, has been expanded to include domestic companies in Ras Al Khaimah and Fujairah.
The move, part of the country’s efforts to redirect government procurement to UAE-based businesses, will help achieve “several” objectives, MoIAT said in a statement on Monday.
These include strengthening value chains, developing new local industries and services, stimulating and attracting investment, diversifying the economy, increasing domestic manufacturing, and creating quality job opportunities, it said.
The ICV programme, part of the UAE's Projects of the 50 that was launched last September, aims to boost the growth of domestic industries by redirecting half of government spending on procurements and tender contracts into the national economy by 2031.
Last year, it redirected more than Dh41.4 billion ($11.27bn) of spend into the national economy.
The programme 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 also supports the goals of the Make in the Emirates campaign, which was launched by the MoIAT to attract investments and promote sustainable industrial development in the UAE.
The campaign also boosts the adoption of advanced technologies in the industrial sector through the Industry 4.0 programme, which was launched to enhance the contribution of the industrial sector to the national economy.
“The expansion of the national ICV programme contributes to increasing the competitiveness of local products and services and promotes the growth of the industrial sector and its related sectors,” Omar Al Suwaidi, undersecretary of MoIAT and chairman of the national committee for ICV programme, said.
"This represents an important contribution to the country's economic diversification strategy.”
The preliminary agreements with the governments of Ras Al Khaimah and Fujairah will "support co-operation and integration between federal and local government entities", Mr Al Suwaidi said.
The programme’s expansion will offer growth opportunities for companies in various sectors, including medical technology, advanced industries, hydrogen, heavy industries, food and beverages, agricultural technology, pharmaceuticals, electronic equipment, machinery and plant equipment, petrochemicals, chemical products and rubber and plastics.
“The programme contributes to strengthening supply chains among national industries and services and supports the work of companies in the emirate and the UAE, thus enhancing the competitiveness of our country,” Yousef Al Balushi, director general of the Department of Finance of the Government of Ras Al Khaimah, said.