BAKU, Azerbaijan, February 11. Human capital and human factors are critical for improving the business environment, said Vusal Shikhaliyev, Head of the Economic Policy and Industry Department at the Administration of the President of Azerbaijan, Trend reports.
In his speech today at the Human Development Forum held in Azerbaijan's Baku, Shikhaliyev drove home the point about the significance of human development, noting that the forum is buzzing with three specialized working groups tied to this theme, especially shining a spotlight on the human capital group.
"Among these working groups, I would like to highlight the human capital group, especially in terms of forming the business mindset among young people and children. Shaping their business thinking based on modern challenges is one of the most relevant topics for us," he said.
Shikhaliyev further pointed out that the modern challenge for society is resource depletion, and the Fourth Industrial Revolution is creating new fields and job principles that make special attention to human capital essential.
"In this area, continuous learning, development, and the application of new knowledge and skills must be prioritized.
What are the opportunities and resources available to the private sector in advancing human capital development? The successful implementation of policy tools provided by state agencies in this area by the private sector is crucial for us. Given that business circles are directly involved in the application and enforcement of laws and regulations, it is essential that the state-business dialogue continues to expand and foster greater cooperation," he added.
The official also pointed out that one of the five key priorities of Azerbaijan's 2030 National Priorities for Social and Economic Development is based on competitive human capital.
"Our country has successfully created an environment conducive to human capital development in this regard, with the participation of all stakeholders and the establishment of an inclusive ecosystem for the development of human capital," Shikhaliyev concluded.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel