The ICV program is probable to place superior importance on technological innovation and R&D by 2025. Companies contributing to the ICV program will be stimulated to capitalize on leading-edge technologies such as;
The program’s orientation with the UAE’s state goals of becoming a worldwide modernization hub will initiate local businesses to implement and progress new technologies. Companies that utilize technical developments will benefit from higher ICV scores and modest advantages, especially in industries such as manufacturing, healthcare, and fintech.
The ICV program was primarily focused on oil and gas. It is now projected to develop its spread to additional sectors by 2025. The ICV program will expectedly cover industries such as;
It aims to line up with the UAE’s economic modification goals. This growth will necessitate businesses in these sectors to implement ICV-compliant practices that will ensure more local work and value creation.
As worldwide ecological concerns grow, the ICV program is projected by 2025 to integrate sustainability and ESG (Environmental, Social, and Governance) metrics. Companies have to be stimulated to;
This modification will line up the ICV program with the UAE’s assurance to net-0 releases by 2050. Businesses that implement sustainable practices will be expected to see augmented ICV scores. It will give them a superiority in government contracts and private sector openings, while also contributing to a more sustainable economy.
The ICV program’s future comprises better regional and global associations. By 2025, the UAE is projected to;
The ICV program will boost the use of UAE-based suppliers and services in cross-border developments. It will also lift export openings and foreign investments. Regional relationships, chiefly in logistics, manufacturing, and technology, will improve the UAE’s status in worldwide supply chains. It will also create a strong framework for local businesses to contribute to global markets while obeying ICV protocols.
One of the chief aims of the ICV program is to restrict supply chains to the locals and diminish reliance on imports. The ICV program is predicted to reinforce this focus by 2025. It requires companies to source more goods and services from suppliers of UAE-based. This shift will lift;
Businesses will need to cooperate meticulously with local suppliers to fulfill the ICV protocols, and new openings will arise for manufacturers, service providers, and SMEs to flourish in the local economy.
The ICV certification program is projected to be completely digitalized by 2025. Also, it is predicted to rationalize compliance for businesses. Companies will be able to submit, track, and renew their ICV certifications through a national online platform. This digital revolution will;
Businesses that acclimatize to the new digital processes will enjoy the benefit of quicker certification, improved compliance tracking, and a more modernized approach to handling their ICV requirements.
The future of the ICV program assures to offer noteworthy opportunities for economic growth and diversification in the UAE. By 2025, the program will develop to focus on the new sectors, prioritize technical modernization, and reinforce local supply chains. In the UAE, if any business wants to fulfill the obligations of the ICV certification program, it is suggested to get assistance from a top consultant such as Farahat & Co. so that businesses can enjoy several ICV opportunities.
