The Abu Dhabi National Oil Company (ADNOC) has announced 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 bolster economic growth and diversification, underscoring ADNOC’s commitment to the nation’s long-term prosperity.

Since its inception in 2018, ADNOC’s ICV programme has reinvested over AED187 billion into the local economy and generated thousands of private-sector job opportunities for Emiratis. The programme focuses on nurturing partnerships with local and international businesses, fostering socio-economic development, and creating employment opportunities for UAE nationals.

ADNOC’s ICV programme is integral to its commitment to driving progress and development in the UAE. To date, the programme has driven more than AED44 billion ($12 billion) back into the UAE economy and created over 1,500 private-sector jobs for UAE nationals since it was launched in 2018.

In line with the UAE’s ‘Operation 300bn’ industrial strategy and the ‘Make it in the Emirates’ initiative, ADNOC’s expanded ICV programme aims to create more private-sector job opportunities for UAE nationals, enable small and medium enterprises, and attract new local and international manufacturers to boost the UAE’s industrial growth and economic prosperity.

ADNOC’s ICV programme has also led to the establishment of several industrial facilities in the UAE. For instance, agreements signed with local and global companies have enabled the construction and expansion of manufacturing and production facilities, further cementing the UAE’s position as a global industrial leader.

Through its ICV programme, ADNOC continues to play a pivotal role in driving sustainable economic value and growth for the UAE, aligning with the nation’s vision for economic diversification and development.