Abu Dhabi government entities awarded 4.6 billion dirhams ($1.25 billion) worth of tenders to local companies last year, as part of the emirate’s drive to support the private sector and develop a knowledge-based economy.

Seventeen government entities awarded 152 tenders to 159 companies based in the emirate, according to the Abu Dhabi Local Content programme's 2020 performance report.

The report also showed that 3,238 companies had obtained the In-Country Value (ICV) certificates of the ADLC in 2020. The program was applied to 1,517 government tenders, with a total value of 24 billion dirhams.

ICV certificates indicate the amount of indigenization of a business. In 2018, the Abu Dhabi National Oil Company (ADNOC) introduced the ICV programme to drive Emiratisation, GDP diversification and localizing strategically critical parts of the value chain.

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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