BAKU, Azerbaijan, December 21. Beginning next year, Azerbaijan's Defense Industry Ministry will focus on the development of a new modern production infrastructure, the incorporation of new technologies into the manufacturing process, and the modernization of existing production facilities, the Minister of Defense Industry Vugar Mustafayev said, Trend reports.
He made the remark during a panel speech at the Azerbaijan-Türkiye Investment Forum.
“Simultaneously, the building of an appropriate legal and legislative framework, the formation of joint ventures and joint production facilities, and the formation of partnerships between the private sector and the state will all play an essential role in our upcoming operations," the official noted.
Mustafayev went on to say that the ministry's important activities will also include attracting capital and encouraging private sector participation in this area, implementing advanced corporate standards and management approaches, improving personnel policy and increasing human resources, and increasing financial and economic sustainability.
The Azerbaijan-Türkiye Investment Forum started in Baku today.
The forum will explore opportunities for expanding Azerbaijani-Turkish cooperation in various fields, and investment agreements and cooperation agreements will be signed.
More than 600 representatives from government institutions and the private sector from both countries are participating in the event.
The forum is featuring panel sessions covering investment, trade, agriculture, defense industry, green energy, and health tourism sectors.
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