Multi-Nation Business Group Event on In Country Value (ICV) Program
On Tuesday, April 19, 2022, AmCham Abu Dhabi together with multiple international Chambers and companies will host a Multi-Nation Business Group Event on Annual Review of National In Country Value (ICV) Program
Dr. Thomas Deeb, Vice President, T&M Associates will be the Moderator.
Speakers will include:
- His Excellency Abdulla Al Shamsi, Assistant Undersecretary for Industry Growth Sector, Ministry of Industry & Advanced Technology (MoIAT)
- Saleh Al Hashmi, Director Commercial & ICV Directorate, Abu Dhabi National Oil Company (ADNOC)
- Courtney Sader, General Counsel, Raytheon Emirates Ltd.
- Suman Jacob, Procurement Lead, Accenture ME
- Natalia Rudenko, Senior Manager,Protiviti
- Kim Schofield, Board Member and Chair of Offset Committee, AmCham Abu Dhabi, Managing Partner, O2K Ltd
For more information on this event: https://amchamabudhabi.glueup.com/event/53521/
iktva in 2022
Summary of Achievements from Saudi Aramco’s 6th iktva Forum held January 24 to 26, 2022.
Saudi Aramco held their 6th iktva (In-Kingdom Total Value Add) conference. Since the program was launched in 2015, this local content program has:
- Increased local content in Aramco’s supply chain from 35% to almost 60%
- Contributed $ 100 billion to Saudi Arabia’s economy
- Attracted an estimated CapEx of $7 billion
- Helped create a competitive industrial base in the Kingdom that is now exporting to more than 40 countries
For more information on Aramco’s iktva:
Environmental Social Governance (ESG)
Investors, employees, communities, and governments expect companies to be good corporate citizens. This is the social responsibility pillar of ESG and consists of practices that benefit the employees, consumers, and community. Companies that deliver are rewarded.
Over the last 20 years, T&M Associates developed and helped clients implement highly successful Social programs. Working together with our clients, our programs have delivered 10’s of thousands of new jobs, billions in new investment, and significant economic expansion, in the communities and countries where our clients operate. By delivering on the Social compact, companies have increased revenues, gained market share, raised profits, attracted investment, and have achieved the business critical success factor — the good will and right to operate within these communities and countries. T&M Associates Social programs provide an additional benefit – a significant ROI.
Supply Chain Resilience: Beyond the Data
Supply chain disruptions, such as those caused by the pandemic, war, or the 2008 financial crisis, have exposed the vulnerabilities and critical pinch points of global supply chains. During these events, companies experienced difficulties obtaining materials, especially from offshore suppliers, delivery times increased, quality decreased, and many suppliers went out of business. Companies had to weather the impact of shut-downs, slow-downs, and labor shortages of their lean supply. Additional disruptions were caused by logistics, from availability and cost of shipping containers to disruptions at receiving or shipping ports, … These events have encouraged companies and governments to promote supply chain redundancies and resiliency. However, digitization and data analytics are just one part of the solution and increasing the buffer capacity by maintaining large inventories is a short-term solution. The risk of maintaining large inventories is that once the logistics issues ease, there may be global overcapacity. The cost of maintaining large inventories or other supply chain redundancies may make the products too expensive in the long term. This raises the questions: how can industries or supply chains be made more resilient and/ or how can we grow sustainable supply chain ecosystems?
T&M Associates has developed a Value Addition/local content framework to help our clients develop, grow, diversify, and optimize their supply chains, and our clients have seen the benefit of their resilient supply chain ecosystems during the pandemic. Our programs are supported by proprietary systems and processes designed to meet the needs of our clients. Digitization and data analytics are just one part of this framework; they are tools used to provide information to make business decisions. By themselves, data analytics do not grow supply chain ecosystems. The output of our program provides clients with a portfolio of opportunities and a list of activities targeting short-, mid- and long-term development and investment opportunities.
“We have seen a lot of plants and factories and suppliers that support Saudi Aramco from Europe, including China and other places – they had to shut down because of the lockdown. That impacted us for a while. But because of the optimum level of inventory that we have and because of our in-Kingdom total value add, which is our local content – we are at 56% so a lot of things are being manufactured in the Kingdom – it helped us a lot.” Quote by Saudi Aramco CEO Amin Nasser in Oil&Gas, June 2020.
Over the last decade, T&M Associates developed and executed the leading in-country value addition program, recognized by the IFC and World Petroleum Council Excellence Awards in Social Responsibility and especially our clients. Our programs are sustainable and continue long after our participation ends. Our programs have developed hundreds of supply chain ecosystems to support our clients’ industries, generated billions in new revenue for local companies, created 1000’s of new jobs, and 10’s of millions of USD in new investment.
Saudi Aramco’s iktva Program Helped Battle the Pandemic
Mohammad A. Al Shammary, VP Procurement & Supply Chain Management at Saudi Aramco, discusses the impact of iktva on the pandemic, and how localization helps build resilience in Oil&Gas. The full Press Release can be read here: O&G Aramco iktva Mar 2021
Saudi Aramco CEO credits iktva with helping to build resilience before the pandemic. The Oil&Gas Press Release can be read here: O&G iktva and Covid Jul 2020
Leveraging Value Add Programs to Support Economic Recovery
Webinar Presented by AmCham Abu Dhabi
AmCham Abu Dhabi in collaboration with ADNOC, ALDAR and Etihad hosted a live webinar on Wednesday Nov. 18th, 2020 on ” Leveraging Value Add Programs to Support Economic Recovery”.
Moderator: Dr. Tom Deeb, VP, T&M Associates.
- Mona Ahmed Balalaa: Manager ICV Execution ADNOC
- Sultan Almheiri: Local Content Manager Sourcing & Procurement Etihad Airways
- Kim Schofield: Founder and Managing Partner O2K Limited
- Leya Al Damani: VP Sustainability Department Procurement ALDAR
Opportunities in Oil & Gas in the Middle East
Danish Export Association Member Conference
In September 2019, Elisabeth Deeb, T&M Associates, was invited to present “Opportunities in Oil & Gas in the Middle East” at the Danish Export Association Member Conference in Esbjerg, Denmark.
World Economic Forum on Economic Development
T&M Associates was an invited author and reviewer for World Economic Forum on Economic Development, Chapter 10. Stimulating Broader Social and Economic Development from Natural Resources. This book was published as a part of the WEF on-going work to help countries maximize the value they create from their natural resources. Read More