The In-Country Value (ICV) is a policy that outlines methods of operation that will aid in promoting GDP diversification in the state of Qatar and sustained economic growth of the energy sector. ICV is governed by “Tawteen,” a group chaired by Qatar Petroleum.
The ICV is the entire amount of money spent within the nation that promotes economic growth, builds human capacity, and raises productivity. This is a crucial component of Qatar’s localization ambitions and will help the nation become more competitive on a global scale.
The ICV will assist Qatar in lowering its dependency on imported goods and services, enhancing the skills of the populace, and luring investment to the country.
ICV certification in Qatar
The ICV Scorecard or ICV plan submission that will be authorized by the Qatar Petroleum-approved ICV certifiers must be submitted by the suppliers as part of this program. The ICV Certification is carried out to make sure that the processes are followed and the information provided by suppliers is evaluated in order for the ICV Score to be accurate.
The certifier’s key duties include creating test processes, reviewing the data supplied by suppliers, issuing ICV certificates in Qatar, and reviewing working documents.
Steps for obtaining ICV certificate in Qatar
A Tawteen accredited ICV Certifier in Qatar must certify the ICV Scorecard and strategy.
The methods for obtaining an ICV Certificate in Qatar are as follows:
- The supplier provides the ICV Certifier with a completed ICV Scorecard/Plan template.
- ICV Certifier conducts tests in accordance with supporting documentation.
- Energy firms use the certified ICV Score in the procurement process once ICV Certifier issues the ICV Certificate.
Why do we need ICV certification in Qatar?
- to guarantee the accuracy of the data supplied by vendors regarding ICV Contribution.
- to guarantee that suppliers’ ICV values are based on solid research and computed using established methods.
Key areas of the procurement process
As part of the registration procedure, suppliers will be required to provide their certified ICV scorecards. They must also re-certify and update their scorecard every year.
Based on the ICV scorecard or the ICV strategy, ICV participates in the decision to choose the successful bidder.
The ICV plan is subject to three reviews: two throughout contract execution, one in the middle, and a final assessment at the conclusion of the contract.
The supplier is required to have their ICV plan verified by a pre-approved certifier for review at the end of the contract.
Depending on the supplier’s performance in relation to their ICV plan, there will be corresponding penalties or awards that were agreed upon during contract discussions.
Technical, business and ICV evaluation factors are used to determine the winning bidder. It is essential that the ICV criteria are followed during the procurement process.
Does ICV impact my company?
Please get in touch with Venture Partner Qatar if you’d want additional details regarding Qatar’s ICV Program and how it can affect your company’s ability to compete for new contracts, as well as how to conduct business there, licensing issues, and PRO Services.