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What is Oman’s In-Country Value (ICV) Program?
In-Country Value (ICV) is defined as the total spending retained in-country that can benefit business development, contribute to human capability development, and stimulate productivity in Oman’s economy. ICV program aims to develop the skills of Oman’s workforce and increasing in-country spending on local goods and services.
Elements of ICV in Oman
It consists of the following seven elements with an overarching aim of maximising ICV in the oil & gas sector. These elements are part of a standard ICV Plan.
- Investments in Fixed Assets
- Developing skills of Oman Work Force
- Training of Oman people
- Local Sourcing of Goods
- Local Sourcing of Subcontracted Services
- Development of National Suppliers
- Development of National Training, Education and R&D Institutions
Supply Chain Development Opportunities
Businesses identified as a result of the demand and supply analysis of goods and services in the oil & gas sector, which are currently imported and identified as high potential to be carried out in Oman. Opportunities that have been presented to the market and are assigned to the relevant oil & gas operators for development.
The opportunities that have been assigned to the relevant oil & gas operators will proceed through various development stages until the tender award whereas the opportunities that are not launched, the scope overview will be made available during the launch date. The rest of the opportunities will be launched in subsequent waves of events and announced through various media outlets before the launch date. The number and type of opportunities will be prioritized and determined for the next wave based on market conditions and related factors.
Who will float the tenders?
They will be floated by the relevant oil & gas operators, whereby all participants who have registered their interest through the ICV Website will be informed regarding details of such tender.
It is to be noted that to be eligible to participate in the oil & gas tenders, all participants/suppliers are required to register in the Joint Supplier Registration System (JSRS).