The National In-Country Value (ICV) Policy represents a pivotal step in the journey of diversifying the Omani economy. It aims to retain the highest possible amount of spending within the Sultanate of Oman by supporting local suppliers and empowering national competencies. The policy also opens the door for Omani industries to expand and compete regionally and internationally by developing local supply chains and building a more diverse productive base that can attract investments and enhance the growth of national companies.
The policy contributes to creating high-quality job opportunities for Omani talents, increasing the efficiency of government spending, and achieving sustainable economic and social returns in line with the objectives of Oman Vision 2040.
His Excellency Eng. Badr bin Salem Al Maamari, Chairman of the Authority for Projects, Tenders, and Local Content, stated that the National ICV Policy is a fundamental pillar for supporting the national economy and enhancing its competitiveness. He pointed out that it is a response to government directions aimed at diversifying income sources and providing sustainable job opportunities for citizens. He added that the tangible results achieved so far in increasing the local content contribution to projects and tenders, and supporting small and medium enterprises (SMEs), reflect the direct impact of this policy in empowering national industries in line with Oman Vision 2040 goals and enhancing the stability of the national economy and the efficiency of public spending.
The policy has been activated by building an integrated ICV system at the national level focused on monitoring and development through practical programs and economic incentives that encourage companies to increase their local contribution. This system includes sector-specific pillars and indicators to measure national participation rates and works to unify data, systems, practices, and regulations. These programs also include initiatives to support SMEs and develop national capabilities in the industrial and services sectors.
Eng. Ghalib bin Amer Al Hinai, Director General of the National In-Country Value Office, stated that the ICV Policy focuses on enhancing local industries and services in coordination with relevant entities, contributing to increased national production efficiency and reducing dependence on imports to ensure sustainable economic growth. It also aims to develop the national workforce in cooperation with specialized bodies by providing quality job opportunities and developing citizens’ skills to match labor market needs.
The policy also places special emphasis on supporting innovation and technology transfer by promoting research and development and adopting modern technologies to build a knowledge-based economy. It seeks to empower entrepreneurs and SME owners as key partners in building a diverse and sustainable economy.
One of the key programs already implemented is the Local Content Certificate in the Energy Sector—as a first phase—which will contribute to enhancing national products and services. This program is expected to gradually expand to include other sectors in the coming stages. Additionally, the “Rabt” platform was launched recently in collaboration with the Public Establishment for Industrial Estates (Madayn), represented by the Industrial Innovation Academy. The platform includes over 5,000 industrial products and services provided by more than 300 factories and companies operating in industrial cities.
Furthermore, the National ICV Laboratory held earlier this year identified 100 opportunities, including 58 investment opportunities that contribute to enhancing local content and creating thousands of jobs in sectors such as health, energy, minerals, construction, electricity, and water, in addition to the military and security sectors. These opportunities are expected to retain hundreds of millions in value within the national economy.
In conclusion, the Authority for Projects, Tenders, and Local Content continues to develop policies and programs in partnership with relevant entities to improve the business environment and empower national companies, thereby enhancing their competitiveness and increasing the local content share in projects and tenders.