UAE extends National ICV Program to Ras Al Khaimah, Fujairah to support local companies

Abu Dhabi: The UAE’s National ICV Program has been expanded into Ras Al Khaimah and Fujairah, it was announced on Monday.

The inclusion of the two emirates will further strengthen value chains, develop new local industries and services, stimulate and attract investment, increase domestic manufacturing and create job opportunities.

“The program redirected Dh41.4 billion of spend to the national economy in 2021. The expansion of the National ICV Program contributes to increasing the competitiveness of local products and services and promotes the growth of the industrial sector and its related sectors. The program is a key pillar of the national strategy for industry and advanced technology and promotes the competitiveness of the UAE’s industrial sector. This represents and important contribution to the country’s economic diversification strategy,” said Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology. The MoIAT oversees the National ICV Program, which was launched as one of the Projects of the 50.

“The MoUs with the governments of Ras Al Khaimah and Fujairah will support cooperation and integration between federal and local government entities. These partnerships further strengthen national supply chains and support self-sufficiency in priority and strategic industries. Today, the program includes more than 45 federal government entities including ministries, federal entities, in addition to 17 major national companies.”

The agreements were signed on behalf of MoIAT by Omar Al Suwaidi; Yousef Ali Mohammed, Director General of the Department of Finance in the Government of Ras Al Khaimah; and Mohammed Obaid bin Majid Al Alili, Director-General of the Department of Industry and Economy in Fujairah, in the presence of Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and Sarah bint Youssef Al Amiri, Minister of State for Public Education and Advanced Technology.