UAE Expands National ICV Program with Key MoUs at 'Make it in the Emirates 2025'

In a strategic move to enhance the United Arab Emirates' National In-Country Value (ICV) program, the Ministry of Industry and Advanced Technology (MoIAT) has inked four pivotal memoranda of understanding with prominent firms including Modon Holding, Emaar Properties, Silal Food & Technology, and Calidus Group. This initiative is part of the larger 'Make it in the Emirates 2025' economic agenda.

The agreements are poised to strengthen collaborative efforts between MoIAT and the participating entities, aligning with the objectives of the National ICV Program. Spearheaded by key figures such as Omar Al Suwaidi of MoIAT and Abdulla Al Sahi from Modon, the partnership is expected to significantly redirect procurement spending back into the economy, bolstering the nation's economic fabric.

Modon Holding, Emaar Properties, Silal Food & Technology, and Calidus Group—all leaders in their respective fields—will play crucial roles in driving innovation and economic value. This collaboration supports the UAE's strategic goal of industrial self-sufficiency, aiming to generate substantial local expenditure and foster entrepreneurship, as highlighted by the robust participation at the fourth 'Make it in the Emirates' event.

(With inputs from agencies.)