The national ICV program has benefited the UAE economy by more than 48 billion dirhams

According to Amac News: In the announcement of the Ministry of Industry and Advanced Technology, it is stated that this project has led to a change of direction of more than 48 billion dirhams to the national economy of the United Arab Emirates.
According to the announcement, the scope of this program has been extended to 31 federal and local government institutions and several large national companies in the country.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said the national ICV program represents a vital pillar in empowering the UAE's industrial sector.
Dr. Al Jaber added that strengthening national industries supports the country's efforts in localizing supply chains while achieving self-sufficiency in key industries.
He explained that the volume of investments of companies that have received the certificate of the program has reached about 205 billion dirhams by the middle of 2024, which has increased by 20% compared to the same period last year.
Dr. Al-Jaber noted that national corporate spending on local purchases and services will see an annual growth of 53 billion dirhams in 2022, a 25 percent increase over 2021.
This amount reached 67 billion dirhams in 2023, which represents a growth rate of 26%.
The Minister of Industry and Advanced Technology of the UAE emphasized the social impact of the national ICV program, which is no less important than the economic impact.
The number of Emiratis employed in companies certified by the national ICV program reached about 19,000 in the first half of 2024, a 40 percent increase from the first half of 2023, compared to 6,180 jobs in 2020, when the ministry was established.
This represents an increase of 13,000 new jobs in three and a half years, in addition to the promising investment opportunities that will come from keeping these billions in the national market, especially for SMEs and Emirati entrepreneurs.
Omar Al Suwaidi, Deputy Minister of Foreign Affairs and Chairman of the ICV National Program Committee, explained that the first half of 2024 has seen a 66% increase in national expenses among the implementing institutions of the ICV National Program compared to the first half of last year.
He added that the number of companies that received the national ICV certificate reached 6,500 companies in the first half of 2024, which is a 30% increase compared to the same period last year.
The number of national content certificates issued in the first half of 2024 has exceeded 3,500, which represents an increase of 17% compared to 2023.