ICV, or In-Country Value, is a program introduced by the Qatari government to promote the growth and development of local industries and businesses in the country. The program was introduced to reduce Qatar’s dependence on imports and to promote the country’s economic diversification.
ICV Certification is an essential requirement for all companies operating in Qatar, including foreign companies, to be eligible for government contracts, subsidies, and other incentives. In this article, we will discuss who needs ICV certification in Qatar.
- Local Companies Local companies operating in Qatar need to obtain ICV certification to be eligible for government contracts and subsidies. The certification process involves assessing the company’s performance in terms of its contribution to the local economy, including the local content of its products and services, the employment of Qatari nationals, and the investment in local industries and businesses.
- Foreign Companies Foreign companies operating in Qatar also need to obtain in-country value Qatar certification to be eligible for government contracts and subsidies. The certification process is similar to that for local companies, and it assesses the company’s contribution to the local economy, including the employment of Qatari nationals and the investment in local industries and businesses.
- Small and Medium Enterprises (SMEs) SMEs operating in Qatar are encouraged to obtain ICV certification to be eligible for government contracts and subsidies. The certification process for SMEs is simpler than that for larger companies, and it focuses on the company’s contribution to the local economy, including the employment of Qatari nationals and the investment in local industries and businesses.
- Joint Ventures Joint ventures operating in Qatar need to obtain ICV certification to be eligible for government contracts and subsidies. The certification process for joint ventures assesses the joint venture’s contribution to the local economy, including the local content of its products and services, the employment of Qatari nationals, and the investment in local industries and businesses.
In conclusion, ICV certification is an essential requirement for all companies operating in Qatar, including foreign companies, to be eligible for government contracts, subsidies, and other incentives. The certification process assesses the company’s contribution to the local economy, including the local content of its products and services, the employment of Qatari nationals, and the investment in local industries and businesses. Therefore, it is crucial for companies to obtain ICV certification to be competitive and successful in Qatar’s economy.