...

Weekly review of major events in Azerbaijan's ICT sector

ICT Materials 7 January 2023 12:32 (UTC +04:00)
Weekly review of major events in Azerbaijan's ICT sector
Sadraddin Aghjayev
Sadraddin Aghjayev
Read more

BAKU, Azerbaijan, January 7. It became known this week that Azerbaijan's Leobank has opened an investment section in its mobile app, Trend reports.

The updated version of the app now allows investing in Apple, Google, Tesla, Amazon, and other companies. In addition, the Leobank app allows purchasing Bitcoin, Ethereum, Binance Coin, and other cryptocurrencies. There is also an opportunity to invest in iShares Silver Trust, Vanguard Value ETF, etc. Funds invested in a particular asset can be withdrawn at any time by selling shares.

Furthermore, the retail trade turnover of computer equipment and electronics in Azerbaijan from January through November 2022 amounted to 441.5 million manat ($259.71 million), which is 67.9 million manat ($39.94 million), or 18.17 percent higher than in the same period of 2021.

Computer equipment worth 200.3 million manat ($117.8 million) was manufactured in Azerbaijan from January through November 2022, which is 1.15 percent or 2.3 million manat ($1.3 million) more.

In addition, the manufacture of computers, electronic, and optical products decreased by 1.2 percent in quantitative terms from January through November 2022, and the production of electrical equipment increased by 37.1 percent compared to the same period in 2021. Moroever, the manufacture of computers, electronic, and optical products decreased by 1.2 percent in quantitative terms from January through November 2022, and the production of electrical equipment increased by 37.1 percent compared to the same period in 2021.

It was also noted that Azerbaijan's State Employment Agency will continue to work on the implementation of new projects since the first quarter of 2023. These projects will include the "public portal" and "electronic labor exchange," as well as "Bacar" projects (virtual platform offering distance training on technical innovations and innovative solutions according to international experience and standards), electronic employment maps (illustrating regions of Azerbaijan with the highest and lowest levels of employment), etc. Also, as part of this project, the state agency is aimed at forming electronic labor contracts and creating an advanced bank of vacancies and new approaches to it.

Moreover, the state agency is aimed at creating a new digital ecosystem of labor relations. An action plan for achieving the aforementioned goal has already been developed. The main goal is to create a new, innovative approach to make the vacancies more accessible for the unemployed and those who are looking for a job. The agency will also implement this approach for employers. In particular, the state agency is working on creating new methods of searching for specialists.

In addition, the State Employment Agency is working on the creation of a new database, that would allow to forecast future employment, eliminate gaps in the relationship between the employee and the employer, as well as prepare young professionals for future challenges in the labor market

Also, it was noted that Azerbaijan plans to abolish paper employment records. The Ministry of Labor and Social Protection is preparing a major legal reform in the labor field. This package is expected to be submitted to the government of Azerbaijan in the near future, and after its adoption, the entire document management will be carried out in a digital way.

The citizens whose employment contracts passed before 2014, should keep their paperwork books. It can be used in labor relations processes and upon reaching retirement age.

Latest

Latest