In Country Value
By definition ‘In Country Value’ is the total spend retained in-country that can help local businesses grow, contributes to upskilling local communities and stimulates productivity in the Omani economy. Our ‘In Country Value’ (ICV) programs support Small Medium Enterprises (SME’s), among other objectives. Our goal is to help to create jobs, develop skills and encourage local suppliers and in turn contribute to the local economy.
In Country Value at OQ8
Our In Country Value (ICV) program is in line with national objectives to prioritize opportunities that would arise from construction work of our Refinery project to support local SME’s and businesses.
As such our ICV plans include:
- Provision of 10% project value to be reserved for purchases and services done by SMEs.
- 20% project value is reserved for local sourcing of goods and sub-contracting services.
- Contracting Companies are to achieve 10% Omanization targets at all functional levels.
- Training and skills development opportunities for 600+ high school and college diploma graduates.
- 100+ scholarships to pursue specialized degrees at Colleges and Universities both local and abroad.