Publication
GCC: Managing Localisation Programs - Is it time for a Chief Localisation Officer (CLO)?
Petroleum Development Oman (“PDO”), the Abu Dhabi National Oil Company (“ADNOC”) and Saudi Aramco have implemented localisation programs (PDO and ADNOC: In Country Value or“ICV” and Saudi Aramco: In-Kingdom Total Value Add Program or “IKTVA”). ICV and IKTVArequire that suppliers will familiarize themselves with its conditions and commercial, legal and tax related effects. This legal briefing gives an overview of the compliance related aspects of such localisation programs and whether it is necessary to implement a Chief Localisation Officer (CLO).