Commercial and Contracts Manager, Senior Contact Administrator, Senior Quantity Surveyor MSc PMC, BSc (Hons) QS & CM, MCIOB, Assoc RICS,
What is "In- Country Value"? In-Country Value (ICV) is used to evaluate how much a company’s project benefits the local economy. During tender evaluations, ICV focuses on: 1. Using Local Suppliers: Buying materials and services from local businesses instead of importing them. 2. Hiring Locals: Employing and training citizens rather than bringing in foreign workers. 3. Supporting Local Companies: Partnering with and developing local suppliers, especially small businesses. 4. Investing in Local Infrastructure: Building facilities, offices, or factories that benefit the local economy. 5. Training and Knowledge Sharing: Helping local employees gain skills and experience through training. Companies with high ICV scores show a strong commitment to boosting the local economy, which can give them an advantage in winning tenders.