Azerbaijan's industry is in need of comprehensive growth and diversification, Rauf Najafli, an advisor to the Azerbaijani Economy Minister, said at the INMerge Innovation Summit organized by PASHA Holding in Baku, Report informs.
Najafli emphasized the importance of transformation in the country's industrial sector.
"We understand that transformation is crucial, and our industry must undergo this process," Najafli stated. "In a broad sense, there is a need for comprehensive growth and diversification. The most significant factor in this regard is the Fourth Industrial Revolution."
Najafli revealed that the initial strategy would encompass the transformation of industry and the integration of businesses. One of the most critical steps in this direction is the creation of a next-generation technological center, along with a legal framework. This aligns with the activities taking place in Türkiye, where commendable work has already been carried out.
"We want to find the best ways and benefit from their samples," Najafli added. "We believe that this center will continuously provide opportunities to study digital transformation and apply it in various fields. This process is expected to contribute 30% to the sector's productivity in the future."
The ministry official further stated that the government is striving to create a favorable environment in the Azerbaijani economy. The efforts include simplifying processes for startups, offering tax incentives, and protecting intellectual property rights, all of which contribute to attracting both domestic and foreign investments.
"The third issue is contributing to the development of the workforce," Najafli concluded.