The Future of the ICV Program: Trends and Expectations for 2025 and Beyond

As the world is rapidly changing and the influence of tech in the businesses is increasing, the ICV program is ready to play its crucial role in attaining a sustainable economic development in the country. The ICV program in UAE was introduced in 2018 and the main idea behind the program is to enhance the national industries and economy by the influence of local employment and investment. As the 2025 is heading, we have to focus on the necessary trends and future demands and the transformation that ICV can bring into the economy. 

New Trends Shaping ICV 

  1. Automation of Industries 4.0

The Fourth Industrial Revolution is rapidly changing businesses over the globe and the United Arab Emirates government is conscious of the fact. The inclusion of high class technology such as artificial intelligence in conventional manufacturing and service businesses will greatly influence the ICV certification and scoring. Businesses investing in digital bases, automation, and progressive technology will attain an opportunity in their ICV scorings. Along with that, Industry 4.0 technologies will align the supply chains, catalyzing efficiency in national production and decreasing the dependence on foreign imports.

  1. Go Green and Sustainability

Businesses are shaping their plans and approaches that align then with the SDG’s i.e., sustainable developmental goals. Along with that, world is majorly invested in saving Earth through Climate friendly approaches. As the focus is shifting, ICV certification will for sure keep the businesses at forefront that focus on sustainable development and their practices are suitable for the ecology. The UAE government is consciously taking decisions that lessens the carbon consumption. The UAE’s Vision 2030 talks much about businesses and companies investing in eco projects and green energy projects and connecting the performance with the ICV certification in UAE. 

  1. Uplifting Skills among Nationals 

By 2025 and afterwards, the UAE government expects the businesses and companies to invest in hiring and developing required skills in the Emiratis from high stake jobs to low level jobs. Promoting the local workforce is one of the core theme of ICV certification in UAE and as the time is changing businesses will be expected to streamline their businesses in accordance with the government policies and regulations which promote the development of human capital. 

  1. Impact of Global Issues on Localizing the Supply Chain

Since COVID’19, the global framework for everything has been changes especially businesses as total dependence on the international imports would be a miss now. That is why, the UAE government has shifted its focus on local suppliers and investing in the local resources, hence mitigating the risks of global imports. As the government is investing in this sector via ICV program, we can observe an immense rise in UAE based manufacturers and suppliers that has the potential to improve the ICV rankings of multinational companies working with them. 

  1. Small and Medium Sizes Enterprizes Empowerment 

Small and medium-sized enterprises (SMEs) has been a keystone of the UAE economy and ICV program in the upcoming years will profoundly focus on sustaining these enterprises. Government led projects that give SMEs with approach to financing, technology, and business coaching will become more common. Adding to that, partnerships between big multinational businesses and local SMEs will become strong, as these partnerships can elevate the local value chain. By focusing over SME development, the ICV program will brought up innovation and competition, paving way for a fertile environment for local enterprises to thrive.

  1. Foreign Direct Investments (FDI)

ICV certification in UAE will greatly appeal to international business holders thinking to tap into the local market as the UAE is focusing to present itself as a global hub for commerce. UAE’s future economic strategy focus the ICV certification that will probably provide increased encouragement to foreign companies whose focus is supply and research and development facilities inside the country. This will keep the UAE even more preferable place for FDI, more specifically involving high demanding sectors like technology, healthcare, and energy.

2025 And Beyond 

The ICV Certification in UAE will keep on evolving into more descent and promising to the UAE’s economy. The current changes make some assumptions for the future ICV program:

  • UAE government is shifting its focus on automation and technology and it will be in focus for innovation in different businesses and industries, 
  • Making the nationals more skilled and up to the global needs will be gathering attention of the regulatory bodies. 
  • Getting the foreign investments and businesses working inside the UAE will foster the economy and even the local businesses and hence the ICV framework is expected to enhance its regulations in accordance to this.
  • A major shift is expected from conventional businesses to the more modern and innovative ones that broadens the vision of businesses in UAE. 

ICV certification is major element of the UAE economy and development and by 2025, there is an expected innovations in the businesses that will be streamlined with digitization, sustainability and climate concerned which will lead to adaptability in ICV program. 

Words: 826

Keywords: ICV certificate in UAE, ICV score. 

References: UAE Vision 2021 and UAE Centennial 2071, PWC Middle East, McKinney and Company AE’s Economic Diversification Strategy

AI Check: No

FAQS:

How does the ICV program align with the UAE’s goal of economic diversification?

The ICV program aligns well with the UAE’s economic diversification as it encourages investment in non-oil businesses like healthcare, and technology, leading to long lasting sustainable growth.

What factors influence a business’s ICV score?
A businesses’ ICV score is impacted by factors like local procurement, Emiratization, investments in national infrastructure, and overall contribution to the UAE’s GDP.

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