Fariz Jafarov: Digital transformation to increase enterprise efficiency by over 30%

Azerbaijan is introducing new measures to support local business within the Digital Economy Development Strategy for 2026-2029, Fariz Jafarov, executive director of the Center for Analysis and Coordination of the IV Industrial Revolution (4SIM) under the Ministry of Economy, said at the Technovation forum in Baku, Report informs.

According to him, the strategy is built on a comprehensive approach covering infrastructure, human capital development, and investments.

The government provides subsidies to 65 companies at the initial stage over a five-year period.

International experts are engaged to conduct in-depth analysis of their business processes and technological level in such sectors as manufacturing, warehousing, metallurgy, logistics, and others.

"Based on this analysis, a special business plan is developed for these companies as a component of the digital transformation roadmap. Then, if a financial need arises, companies can apply to the Azerbaijan Business Development Fund OJSC, which supports the implementation of their projects through low-interest loans," he said.

The transition to full-fledged digital models is expected to enable enterprises to increase business efficiency by more than 30% and reduce operational costs by over 20%, Jafarov added.