BAKU, Azerbaijan, October 10. One of the next steps will be to improve the regulatory framework to create more favorable conditions for digital innovation in Azerbaijan, Rauf Najafli, advisor to the country's minister of economy, said during the "INMerge" Innovation Summit, organized by PASHA Holding for the fourth time, in Baku today, Trend reports.
According to him, the strategy for the development of the digital economy must align with the methods and ideas of the Fourth Industrial Revolution.
"Primarily, this involves the transformation of industries and businesses, with one of the key steps being the establishment of a next-generation technology center. This center will play an important role in supporting digital transformation by providing practical training and fostering innovation across various sectors.
Türkiye's experience has served as a significant benchmark for Azerbaijan. The new center will help increase labor productivity in various sectors of the economy by 31 percent.
"Key measures have already been taken, but work continues. The priority tasks include simplifying the process of establishing startups and technology companies, providing tax incentives, and protecting intellectual property to attract investments, both domestic and foreign," he added.
The official called the development of human capital to ensure successful operation within the digital economy the third focus of the strategy.
"A key aspect is the training of specialists capable of effectively using both hardware and software. The hardware component is less complex compared to the human resource challenges. Within these initiatives, we collaborate with the Ministry of Digital Development and the Center for the Fourth Industrial Revolution, as well as develop projects in the field of artificial intelligence," Najafli emphasized.
This summit, organized by PASHA Holding, aims to contribute to the development of the innovation ecosystem in the country, bringing together startups and investors to provide opportunities for collaboration, as well as creating a platform for exchanging ideas and experiences among all participants in the innovation ecosystem.
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