How does the ICV certification program work
The ICV program typically works by setting specific criteria and requirements that companies must meet in order to obtain certification. These criteria are designed to encourage companies to invest in the local economy and promote local value creation.
It is important to find out how can we get ICV certification in Qatar. The exact requirements and criteria for ICV certification can vary depending on the country and industry, but they generally include some combination of the following:
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Local Sourcing: Companies must demonstrate that they are sourcing goods and services from local suppliers, as opposed to importing them from other countries. The percentage of local sourcing required may vary, but it is typically a significant portion of the company’s total procurement spend.
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Local Job Creation: Companies must create jobs for local workers, either directly or indirectly through their supply chain. This may involve hiring local staff, contracting with local service providers, or investing in local training and education programs.
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Technology Transfer: Companies must transfer knowledge and technology to the local workforce, either through training programs, research and development initiatives, or other means. This helps to build local capacity and expertise, which can contribute to long-term economic development.
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Local Investment: Companies must invest in the local economy, either through direct investment in local businesses or through philanthropic initiatives that support local communities.
To obtain ICV certification, companies typically need to demonstrate that they have met these criteria over a specified period of time, usually a year or more. They may be required to provide documentation and evidence to support their claims, such as invoices, payroll records, or training certificates.
Once certified, companies may be eligible for certain benefits, such as tax incentives, preferential treatment in government procurement, or improved relationships with local stakeholders.
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