BAKU, Azerbaijan, February 13. It is planned to increase the share of high-tech and medium-tech industries in the total value added to 15 percent by 2026, Chairman of the Management Board at the Small and Medium Business Development Agency (SMBDA) Orkhan Mammadov said at the Azerbaijan–Israel Innovation Forum, Trend reports.
"The development of innovative entrepreneurship is also reflected in the agenda of the strategic activities of the Azerbaijani government. The "Socio-economic development strategy for 2022-2026 of the Republic of Azerbaijan", approved last year, defines qualitatively new models of development for the medium term," he said.
According to him, productivity, which is the basis of a competitive economy, is enhanced by innovation and modern technology.
"With this purpose, it is planned to promote the introduction of innovations in the private and public sectors, develop a system of targeted fiscal preferences for startups and investors, create an innovation cluster, and implement other activities. As a result, it is planned to increase the share of high-tech and medium-tech industries in the total value added to 15 percent by 2026," he added.