ADNOC is set to drive AED200 billion ($54.4 Billion) into the UAE's economy over the next five years through its In-Country Value (ICV) program, Emirates News Agency (WAM) reported.
This strategic initiative will boost economic growth and diversification, reinforcing ADNOC's commitment to supporting the nation's long-term prosperity, it said.
This new target unlocks significant opportunities for local and international companies to engage with ADNOC's procurement pipeline, fostering investment in the UAE's manufacturing and industrial sectors while driving job creation for Emiratis.
In 2024, ADNOC's ICV program 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 launch in 2018, the program has delivered AED242 billion in economic value and enabled the employment of 17,000 Emiratis in the private sector, underscoring ADNOC's commitment to sustainable economic growth and national talent development, WAM said.
"In line with the UAE leadership's vision, ADNOC continues to serve as a key driver of the nation's economic diversification and growth through our highly successful In-Country Value program,” said ADNOC Executive Director of People, Commercial and Corporate Support Yaser Saeed Almazrouei.
"Building on this momentum, we are expanding private sector job opportunities for UAE nationals and offering compelling prospects for the private sector to contribute to the UAE's industrial expansion. We invite local and international companies to leverage our ICV program to create sustainable value and foster mutual success,” he added.
ADNOC's ICV program continues to strengthen the UAE's industrial sector, driving local manufacturing and economic diversification. Since 2022, ADNOC has signed agreements with UAE and international companies worth AED72 billion to locally manufacture critical industrial products, advancing its target of producing AED90 billion worth of products in the UAE by 2030. This initiative supports the UAE's 'Make it in the Emirates' campaign, supporting industrial growth and innovation.
