Move to boost Aviation’s contribution to the industrial sector
Etihad Airways has become the country’s first airline to join the In-Country Value (ICV) Program. The Ministry of Industry and Advanced Technology (MoIAT) is expanding the program’s scope to include new sectors like aviation as part of the national industrial strategy to sustain economic growth and raise the efficiency and competitiveness of the industrial sector.
The In-Country Value Program, part of the UAE’s ‘Projects of the 50’, is a pillar of the national industrial strategy and benefits certified companies by increasing local demand for their products and services.
By joining the ICV program, Etihad Airways will prioritize local suppliers and UAE companies in the procurement process. It will also encourage global suppliers to establish branches in the UAE, attracting more foreign investments to the country.
The signing ceremony was witnessed among others by HE Sarah bint Yousef Al Amiri, Minister of State for Advanced Technology, and Mohammed Ali Al Shurafa, Chairman of Board of Directors, Etihad Aviation Group. The MoU was inked on behalf of MoIAT by HE Omar Suwaina Al Suwaidi, Undersecretary of the Ministry and for Etihad Airways, Tony Douglas, Group CEO, Etihad Aviation Group.
“The In-Country Value Program is one of the pillars of the national strategy for advanced industry and technology, Operation 300Bn. It benefits certified companies by increasing demand for their products and services by redirecting government expenditure towards local companies,”” commented Al Suwaidi.
Want to stay updated on the latest industry news and trends? Subscribe today to receive your monthly news highlights directly in your inbox!
