According to Amac News: Based on the ADNOC's announcement, this program provides significant opportunities for local and international companies to cooperate with ADNOC's supply chain.
The program also encourages investment in the UAE's manufacturing and industrial sectors and helps create jobs for Emiratis.
By 2024, ADNOC's ICV program has injected AED 55 billion into the UAE economy and helped create 5,500 private sector jobs for UAE nationals in partnership with the UAE Talent Competition Council (NAFIS).
Since its launch in 2018, the program has generated AED 242 billion in economic value and helped employ 17,000 Emiratis in the private sector.
ADNOC's Executive Director of Human Resources, Business and Corporate Support said that ADNOC will continue to implement the program. He invited local and international companies to use the ICV program
ADNOC's local value program is said to strengthen the UAE's industrial sector and stimulate local manufacturing and economic diversification.
As of 2022, ADNOC has signed agreements worth AED 72 billion with Emirati and international companies for the local production of critical industrial products, aiming to produce AED 90 billion of products in the UAE by 2030.
At World Food Week in Abu Dhabi, ADNOC food contractors have signed agreements worth more than AED 540 million with 55 Emirati sub-suppliers. These agreements build on previous contracts worth more than 1 billion dirhams with four contractors to provide food services at ADNOC group companies from 2022 to 2027.
These food agreements contribute to ADNOC's commitment to the UAE's national food security strategy to increase the share of UAE-produced products in its supply chain from 25% to 60% in 11 key food categories by the end of 2024.
ADNOC has also recently awarded contracts worth AED 720 million to 11 companies to manufacture a diverse set of products in its value chain.
At ADIPEC, ADNOC partners opened eight new manufacturing facilities in the UAE, bringing the total number of facilities opened by the ICV program this year to 16 and to 33 since the launch of the "Make in the UAE" initiative.