UAE Jobs: 120,000 Employment Opportunities To Be Created By 2031

UAE Jobs: A top government official said in Abu Dhabi that the National In-Country Value (ICV) program aims to create 120,000 new jobs by 2031.

The UAE government programme, launched as part of the ’50s of Projects’, seeks to enhance economic performance and support local industries by redirecting a high share of public spending into the national economy.

“For the programme, we are aiming to significantly increase the contribution of industries to GDP. The program will contribute to redirecting more than 42 percent of procurement and contract spending from government entities and major companies into the national economy, boosting demand for Emirati services and products from Dh33 billion at present to Dh55 billion by 2025.

This is accompanied by an increase in the number of approved suppliers to 7,300 companies,” Abdullah Al Shamsi, Assistant Under Secretary of the Industrial Development Sector at the Ministry of Industry and Advanced Technology, said during a media briefing held in the presence of Mohamed bin Hadi Al Hussaini, Financial Dr Sultan bin Ahmed Al Jaber, Minister of State for Affairs and Minister of Industry and Advanced Technology.

The program takes into account local expenditures on manufacturing, local products and services, investments, and the hiring and development of the emirate. A company will receive an ICV certificate and score based on the amount of expenditure, investment and job creation. The higher the score, the better the chances of securing tenders and contracts.

Al Shamsi pointed out that national companies have had a “positive experience” after implementing the program.

“It’s a tool to encourage companies to invest and recruit more people.”

Over the next 10 years, the program expects to create 90,000 to 120,000 job opportunities

Officials announced the start of the process of implementing the program on procurement policies of all 45 federal government entities, including ministries, federal authorities and institutions.

Mariam Al Amiri, Assistant Under Secretary for the Financial Management Sector at the Ministry of Finance, revealed that 27 federal entities have implemented the ICV program.

Read Also – Jobs in Canada: Google is Start Hiring and Some Positions Don’t Even Require a Degree

“This figure is likely to increase. Several other entities have submitted their requests to implement the financial system.” Al Shamsi clarified that there was a gap between the entities implementing the program and the companies and suppliers that benefited from it, ie those who received ICV certificates and scores.

“The institutions implementing the program are the government, our big national ‘champions’, quasi-government companies, etc. But the private sector is the biggest beneficiary of the ICV program and our biggest goal is to increase the contribution of the private sector to our GDP. It is a program that certainly helps the private sector grow significantly.”

UAE Jobs: 120,000 Employment Opportunities To Be Created By 2031

Total spending by federal and public entities on goods and services reached Dh134 billion by 2019, which is 9 percent of GDP. Al Shamsi added that foreign companies will also be able to obtain ICV certificates and participate in tenders with entities that are implementing the ICV program.

“This program is for any company, foreign or UAE, that wishes to do more in the UAE, and have access to purchases, contracts and tenders with entities that have implemented the ICV programme. Foreign companies can participate in the program, obtain ICV certifications and earn high scores by investing, spending and renting more on UAE goods and services.

UAE Jobs:  Al Shamsi revealed that many international companies saw the benefits of moving their services and operations to the UAE. “We have seen MNCs deciding to set up in the UAE, do more of their manufacturing, assembly and value-added activities in the UAE so that they have a higher ICV score and are more competitive in obtaining contracts and tenders ,” said Al Shamsi.

Source: khaleejtimes