We are thrilled to announce that we have joined the ICV certifiers panel, and we have been appointed as an accredited ICV certifier who can issue ICV certification. We are now an integral part of the National In-Country Value (ICV) Program, launched by Qatar Energy, to realize Qatar Vision 2030 and create new opportunities in the energy sector. Our Antonio Ghaleb and Partner CPA's team can help you with your ICV certification process; read below to learn more.

The ICV policy encourages investments in local suppliers, job creation for locals (citizens and residents), and technology transfer. Companies calculate their ICV score based on local contributions, influencing their treatment in government contracts and market expansion.

Qatar Energy integrates ICV to promote local industries, nurture the private sector, and ensure the active participation of Qatari nationals and residents in the nation's economic growth.

Overview of Tawteen Vision and ICV(In-Country Value)
This program aims to boost the private sector, foster employment for Qatari nationals and residents, and create opportunities that enhance their skills and contribute to sustainable economic development.

ICV plays a vital role in government procurement within the Qatar Tawteen program. It encourages companies to increase economic contributions, source locally, and hire Qatari nationals and residents. Committed companies receive preferential treatment in tender government processes.

The primary objectives of ICV are:

• Diversification of GDP: Encouraging greater utilization of domestically sourced goods and services to promote economic diversification.
• Strategic Localization: Focusing on the localization of critical value chain components for specific business categories.

Key Aspects of ICV Certification

1.  ICV certification relies on the most recent audited financial statements of the entities.
2.  Newly established companies lacking audited financial statements may consider management accounts (9 months minimum and 15 months maximum) or audited financial statements for up to 18 months for ICV calculations.
3.  Approval from Tawteen uis required for certain qualified opinions in the audit report.
4.  The ICV certificate remains valid for 12 months from the issuance date of the last audited financial statements.
5.  The ICV certification process will be conducted in accordance with the International Standard on Related Services (ISRS) 4400, ‘Engagements to Perform Agreed Upon Procedures Regarding Financial Information’
6.  ICV Scores are determined using a predefined methodology that assesses the economic value added within the country, considering factors such as:
   - Maximizing sustainable in-country value creation, including the cost of local tangible goods, materials, services, and manpower compensation.
   - Upgrading and developing local talent and suppliers, including the cost of local training for Qatari citizens and residents and supplier training and certification programs.
   - In-country private investment, encompassing investments in fixed assets and depreciation and amortization of company assets in Qatar.