ADNOC Signs Agreements with Abu Dhabi Ports and Aldar Properties to Adopt ADNOC’s Successful In-Country Value Program
Companies to explore opportunities for collaboration in Emiratization in the private sector and sourcing of additional local goods and services
Agreements reinforce ADNOC’s commitment to supporting the growth and diversification of the UAE’s economy
Abu Dhabi, UAE – November 14, 2019: The Abu Dhabi National Oil Company (ADNOC) signed, today, two comprehensive framework agreements, with Abu Dhabi Ports and Aldar Properties PSJC (Aldar), to explore opportunities for collaboration in relation to ADNOC’s In-Country Value (ICV) Program.
The agreements potentially extend the reach of ADNOC’s ICV Program to the logistics and construction sectors and reinforce ADNOC’s commitment to supporting the growth and diversification of the UAE’s economy.
Under the terms of the agreements, ADNOC and both companies will explore potential opportunities for collaboration in creating additional skilled employment opportunities for UAE nationals in the private sector and sourcing goods and services within the UAE. In addition, the agreements would see ADNOC and both companies explore the potential for ADNOC to provide training on the implementation and measurement of compliance with the key objectives of its ICV Program.
The agreements were signed by Rashed Saud Al Shamsi, Director, Business & Commercial Support Directorate at ADNOC; Captain Mohamed Juma Al Shamisi, Group CEO of Abu Dhabi Ports; and Talal Al Dhiyebi, CEO of Aldar.
Al Shamsi said: “We are pleased to be partnering with these two companies, which share our vision to create, unlock and maximize value for the benefit of the UAE. ADNOC is, and will continue to be, an integral part of the UAE’s economy, and our In-Country Value Program is a central enabler of our commitment to drive progress and development in the nation as we deliver our 2030 strategy.
“The program has been a huge success since we launched it almost two years ago and these framework agreements provide a solid foundation to strengthen and extend its reach. It is our firm hope that we can swiftly develop these two agreements into new partnerships that will create long-term and sustainable value for the nation, in line with the leadership’s wise directives.”
Captain Al Shamisi said: “As a key enabler of trade and business across the country and the region, Abu Dhabi Ports is fully dedicated to promoting the socio-economic development and growth of the UAE. Today’s framework agreement with ADNOC through its successful ICV Program is a significant milestone in our mutual commitment to providing fuller and richer Emirati employment across all Abu Dhabi Ports’ assets – from Zayed and Khalifa Ports to KIZAD’s industrial zones.
The success of the transport and logistics industry of tomorrow is dependent on the investment in the excellence of Abu Dhabi’s infrastructure and the expertise of our Emirati professionals, and with today’s agreements, we continue to make significant steps in that direction.”
Al Dhiyebi said: “Embedded across Aldar’s corporate strategy is a commitment to sustainability, ensuring that its values extend through every link in the supply chain. We are committed to the UAE’s economic growth and diversification, and sustained investment within Abu Dhabi. This framework agreement with ADNOC provides us with access to an ICV Program that is already accepted by the market, and we look forward to its implementation at Aldar. We also look forward to working closely with all of our partners across our entire supply chain to drive more local content, support Emiratization and talent development, and collaborate on environmental initiatives to control climate change.”
ADNOC’s ICV Program was launched in January 2018 to encourage private-sector partnerships and opportunities resulting from the company’s 2030 smart growth strategy, catalyze socio-economic development, improve knowledge-transfer and generate jobs for UAE nationals.
More than 3,000 suppliers are certified in ADNOC’s ICV Program, which serves as the primary enabler of ADNOC’s – and suppliers’ – contributions to the UAE’s socio-economic growth and development. In the ICV Program’s first two years, ADNOC enabled the private sector to hire more than 1,500 Emiratis and drive more than AED 44 billion back into the UAE economy.