- Enhances opportunities for local suppliers to form partnerships with foreign firms
- Provides contractual advantages with partner companies and government entities
- Increases private sector involvement
- Facilitates GDP diversification
- Encourages the localization of critical supply chain components
It’s worth noting that the ICV program in the UAE is continually evolving, currently in its third version. While not directly impacting ICV scores, the corporate social responsibility (CSR) activities of suppliers in the UAE are documented within the ICV framework, emphasizing the importance of long-term relationships in the region’s business landscape. Rather than viewing ICV scores in isolation, it’s essential to see them as part of an ongoing partnership between suppliers and their respective countries to enhance economic sustainability in the Middle East.