Shahmar Movsumov: Law on benefits in digital technologies sector improved

Azerbaijan has improved a law providing incentives and benefits for entities operating in the digital technology sector, Presidential Assistant and Head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration Shahmar Movsumov said at the first plenary meeting of the Milli Majlis' autumn session.

According to Report, he said the law adopted by parliament on July 14, which provides incentives and benefits for entities in the digital technology sector, was returned to the Milli Majlis by the president in accordance with Article 110 of the Constitution.

"During this period, the law was reconsidered together with relevant government agencies, improved and submitted to the Milli Majlis for consideration," Movsumov said.

He noted that the revised draft is intended to address the need to clarify the objectives and implementation mechanisms of state support.

"The conceptual essence of the draft is not limited to individual tax and social incentives. It brings together specialists, investors, research and market components, which are essential for the digital ecosystem, within a unified incentive approach and aims to create conditions for innovation to be transformed into new products and services," he said.