Azerbaijan, Baku, July 26/ Trend, E. Ismayilov/
The World Bank (WB) suggested that Azerbaijan develop its information-communication technology sector in three ways: the expansion of domestic demand, turning Azerbaijan into a regional ICT center and the development of a regulatory environment.
Chief economist of the WB for Europe and Central Asia Mona Prasad promoted these recommendations on Thursday in Baku, during his meeting with the Minister of Communication and Information Technologies Ali Abbasov.
The WB worked out the recommendations after studying on "The choice of Azerbaijan after "Oil age" in the direction of diversification and growth". Taking into account the remarks stated during the presentation, the Bank will present the report to the Ministry, after which the summarized recommendations will be sent to the government of the country.
According to the WB economist, the effectiveness of work, which was varied out for 10 years in development of ICT sector, the sphere of telecommunication, internet, the creation of satellite industry and achievements in this sphere have contributed to not only Azerbaijan's economy, but also indirectly influenced the economy of the country's regions.
"The diversification, which is conducted in ICT sector, is considered a good step in diversifying the economy as a whole. To support change, the WB supports diversification in three directions: the implementation of transformations in the sphere of physical capital, human capital and government institutions. These directions namely can be considered as the factors behind the sustainability of the economy," Prasad said.
The minister expressed his hope that cooperation with the WB will continue in coming years too.