ADNOC's In-Country Value Programme To Drive AED 200 Billion Into UAE Economy Over Five Years

ADNOC plans to inject AED200 billion into the UAE's economy over the next five years through its In-Country Value (ICV) programme. This initiative aims to enhance economic growth and diversification, highlighting ADNOC's dedication to the nation's prosperity. The programme offers substantial opportunities for local and international companies to engage with ADNOC's procurement pipeline, promoting investment in manufacturing and industrial sectors while creating jobs for Emiratis.

In 2024, ADNOC's ICV programme reinvested AED55 billion into the UAE economy and facilitated the creation of 5,500 private-sector jobs for UAE nationals in collaboration with the Emirati Talent Competitiveness Council (Nafis). Since its inception in 2018, the programme has generated AED242 billion in economic value and enabled employment for 17,000 Emiratis in the private sector, demonstrating ADNOC's commitment to sustainable growth and talent development.

ADNOC's ICV programme continues to bolster the UAE's industrial sector by driving local manufacturing and economic diversification. Since 2022, ADNOC has signed agreements worth AED72 billion with UAE and international companies to locally manufacture essential industrial products. This effort aligns with its goal of producing AED90 billion worth of products within the UAE by 2030, supporting the 'Make it in the Emirates' campaign.

The programme also focuses on enhancing the UAE's food industry by prioritising high-quality local food products. During Global Food Week in Abu Dhabi, ADNOC's catering contractors signed agreements worth over AED540 million with 55 UAE-based sub-suppliers. These agreements build on previous contracts exceeding AED1 billion signed with four contractors to provide catering services across ADNOC Group companies from 2022 to 2027.

These catering agreements support ADNOC's commitment to increasing the share of UAE-grown produce in its supply chain from 25% to 60% across 11 key food categories by the end of 2024. This aligns with the UAE's National Food Security Strategy. Additionally, ADNOC recently awarded contracts worth AED720 million to 11 companies for producing various products across its value chain.

At ADIPEC, ADNOC partners inaugurated eight new manufacturing facilities in the UAE this year, bringing the total number of facilities launched by the ICV programme to 16 this year and 33 since starting the 'Make it in the Emirates' initiative. These efforts underscore ADNOC's role as a key driver of economic diversification and growth.

Expanding Opportunities for Emiratis

"In line with the UAE leadership's vision," stated Yaser Saeed Almazrouei, ADNOC Executive Director of People, Commercial and Corporate Support, "ADNOC continues to serve as a key driver of the nation's economic diversification and growth through our highly successful In-Country Value programme." He added that they are expanding private sector job opportunities for UAE nationals while offering prospects for private sector contributions to industrial expansion.

ADNOC invites local and international companies to leverage its ICV programme to create sustainable value and foster mutual success. The initiative strengthens local manufacturing capabilities while supporting innovation within various industries across the nation.

The strategic focus on both industrial growth and food security highlights ADNOC’s comprehensive approach towards fostering long-term economic stability in alignment with national objectives.

With inputs from WAM