Doha, 07 Oct. 2024
QatarEnergy has announced the launch of Tawteen initiative’s enhanced In-Country Value(ICV) program, a move that will further align it with the objectives of the State of Qatar to enhance the sustainable development of the local economy.
The enhanced ICV Program is the result of strategic collaboration and alignment with key stakeholders, mainly the Ministry of Finance and the Ministry of Commerce and Industry, as well as suppliers, energy champions, and industry experts.
Building on the foundations laid by the originalI CV program launched in 2019, this enhanced version brings forward significant improvements that make the program more inclusive, adaptable, and beneficial for all participants.
One of the Program’s key amendments is there fined ICV for mula, which is engineered to provide a wider scope of the local contribution for all companies. In addition, a bonus scheme was introduced to reward companies for their positive contributions in selected fields, hence, ensuring an accuratere flection of each company's impact on Qatar's economy.
The enhanced ICV Programnalso introduces the ICV+policy, which is specifically designed to provide targeted support to local manufacturers. This policy under scores the program's emphasis on developing the capabilities of Qatar’s manufacturing sector, enabling local companies to meet the evolving demands of the industry andcontribute to the country’s economic growth.
To further empower micro and smallnenterprises, the Program introduces a Blanket Score policy offering a standardized ICV score that supports their competitiveness in the market. Additionally, as implified certification process is introducedtoal leviate the administrative andf inancial burden for micro and small enterprises who work directly with thebEnergy sector.
These introductions underscorebQatarEnergy’s commitment to fostering an inclusive localnsupply chain, where businesses of all sizes can thrive. In addition to the above, the enhanced ICV program considers in creasing the number of ICV certification bodies interested in joining the program, provided they meet the specified criteria.
This will contribute to improving efficiency of procedures and providing multiple options for suppliers seeking to obtain ICV certification.
It is noteworthy that the ICV program has made significant progress in the last few years, increasing the local contribution of the Energy sector from 14% to 28.5% and creating around 7,000 jobs.
Tawteen will soon provide detailed informationon the ICV enhancements, upcoming stakeholder awareness sessions, and th eopening of the ICV certifier application process.
To register or get more information on the ICV program, please visit icv.qa or send
an email to: info@tawteen.com.qa
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