Baku, Azerbaijan, June 29
By Huseyn Valiyev - Trend:
Companies willing to invest in Azerbaijan’s economy first of all show interest in guarantees and benefits that they can get from the state, a source in the Azerbaijani government told Trend.
The source noted that there is fierce competition in the IT sector, and a corresponding economic regime is needed for the local product to compete with a foreign one.
“This is especially important for companies that are starting business, even if they invest in foreign capital,” the source said. “Perhaps the most successful policy in this regard is the development of technology parks, because namely there people will be able to implement their ideas and find an investor. As for legal regulation, the development of the legal system is a long process. Moreover, the law is always based on the economy. We see how dynamically the economy develops, how rapidly economic processes unfold. Therefore, the law should react to these changes. How fast all this happens is another question.”
In this case, preparation of scientific human resources, in particular lawyers, is a very important issue, because they must be prepared for these changing conditions, according to the source.
“The new reality provides completely new phenomena, such as artificial intelligence, augmented reality, “Smart City”, “E-Government”, etc.,” the source noted. “All these new trends require a new approach on the part of lawyers, so we need to pay attention to this issue. On the other hand, our rulemaking is moving in this direction, and we see to what extent the legal reform has been applied to the sphere of innovations. New state institutions are being created, state programs, normative acts are being adopted, etc. All this is aimed at ensuring that this sphere would be maximally adjusted.”
The formation of an innovative ecosystem is a key factor for achieving success at the moment. For this system to operate, each of its links must fulfill its specific function, according to the source.
“At the moment, state policy is aimed at ensuring that all components of this process perform their function in the appropriate way,” the source noted. “The processes occur in several directions. They include state support and standards, since without regulation it is quite difficult to formulate the appropriate legal field in this environment, to ensure that there are guarantees of copyright protection, protection of investments injected into the IT sector. In addition, at the moment we have a lot of government documents and strategic road maps for the development of separate sectors of economy. Presently, investment policy is applied in every sector of economy. The state plays a big role in ensuring consistency of this policy. It is the consistent development that is taking place in the sphere of application of innovations in the economic process.”
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