BAKU, Azerbaijan, February 15. Azerbaijan has identified 'green' growth as one of its five national priorities, said Head of Department at Ministry of Economy Huseyn Huseynov during the forum "Tax system in the new development period: Strategic Goals for a Sustainable Economy" held in Baku, Trend reports.
"In the medium term, Azerbaijan aims to maintain economic growth at 3-4 percent, with specific goals concentrating on increasing investment in the environmental sector, particularly in green energy. By 2026, the goal is to enhance the share of renewable energy in total investment potential from 17 to 24 percent, with a further target of achieving 30 percent by 2030 – a significant priority in the socio-economic growth strategy. The country has outlined strategic objectives for green growth and a green economy. However, the major problem is in properly fulfilling these aims to hasten the process, and I anticipate that resolving these challenges will receive special focus in both the COP process and the implementation of the action plan connected to the 'year of green growth'," he said.
To note, the forum "Tax system in the new development period: Strategic Goals for a Sustainable Economy" in Baku discussed new challenges in the field of tax administration. Within the framework of the forum, opinions were exchanged on the increasing role of tax authorities in economic regulation, priorities for the development of the business environment, active participation of entrepreneurs in the formation of budget revenues, and building "state-business" transparent relations.