How the ICV (In-Country Value) Program Affects New Businesses

ICV Submission, Audit & Certification Process in Oman

Submission steps:

• Prepare and submit ICV plan and historical data to the certifying body

• ICV auditors verify documentation and calculate the ICV score

• ICV certificate is issued—used to qualify for tenders

• Re‑certification is required periodically (often annually)

Proper record‑keeping ensures smooth processes for new businesses.

Benefits of High ICV Scores for New Businesses

High ICV leads to:

• Prioritization in public sector contracts and energy tenders

• Access to procurement portals and scoring preferences

• Improved brand reputation as a local value creator

• Potential financing or partnership support from OQ, PDO, etc.

New businesses that meet ICV criteria early stand out strategically.

ICV Program Challenges Facing Startups in Oman

Common challenges:

• Lack of historical local spend data for a new entity

• Difficulty hiring Omanis early when revenue is limited

• Limited local SME supplier base in niche sectors

• Administrative burden in compiling scorecard and meeting thresholds

Addressing these early with planning and mentorship is key.

Tactics to Improve ICV Performance Quickly

• Partner with local SMEs for service or component delivery

• Invest in initial Omanisation hires and trainee programs

• Lease office space and local assets to boost fixed-asset inclusion

• Engage with national training institutions for internships and scholarships

These tactical steps enhance new business ICV scorecards right from launch.

ICV and Access to Government or Energy Sector Contracts

Major operators now integrate ICV requirements into tender prequalification. A valid ICV certification Oman unlocks access to supply contracts with PDO, OQ, and government entities. Without it, even innovative startups may be excluded from winning bids.

SME Inclusion & Riyada Cardholders in ICV Oman Program

New startups registered under SME frameworks—or holding a Riyada Card—benefit from preferential SME procurement quotas under ICV rules. This gives early-stage ventures a higher chance to qualify as local suppliers under the 10% SME spend threshold.

Case Studies: New Businesses Excelling with ICV

• Small energy-component SMEs winning contracts by aligning with PDO’s local supplier targets

• Training-focused startups embedding internship schemes to raise ICV scores

• Service-based firms collaborating with larger operators to supply sub-contract services locally

These show how ICV advantages can be leveraged even by newer entrants.

Aligning Your Business Model with Oman Vision 2040 via ICV

Vision 2040 emphasizes diversification, SME growth, local content proportion increase, and human capital upliftment. New businesses that design their models around ICV—jobs, procurement, training—are fully aligned with national goals and more likely to gain government support.

Monitoring, Tracking & Improving ICV Over Time

Track:

• Percent of local spend vs total procurement

• Number of Omani hires and trainee hours

• SME subcontractor value

• Engagement in supplier development or training programmes

Use dashboards or spreadsheets to measure performance and raise ICV score in future re-certification cycles.

Conclusion: ICV Oman Program as a Growth Lever for Startups

The ICV Oman program is more than a compliance obligation—it’s an opportunity-enhancer for new businesses in Oman. By embedding elements of local procurement, Omanisation, supplier development, and training into your business model from day one, you unlock access to major tenders, strategic partnerships, and visibility in sectors driven by localization. For startups seeking sustainable growth under Vision 2040, aligning to ICV principles is a smart, long-term investment.