The development strategy of Azerbaijan's digital economy aims to create an efficient ecosystem for the country's future growth and innovative development.

Minister of Economy of the Republic of Azerbaijan Mikayil Jabbarov stated this at the 4th "INMerge" Innovation Summit organised by "PASHA Holding" in Baku, Azernews reports.

M. Jabbarov noted that the country's economy is showing stable growth.

"In the first 9 months, GDP increased by 4.7 percent, with growth in the oil and gas sector exceeding 7 percent. During the same period, 75,000 new jobs were created in the private sector. Such progress allows us to discuss the future and innovations. For the development of Azerbaijan's economy and innovation, it is important not only to ensure economic growth but also to invest in human capital," he said.

M. Jabbarov highlighted initiatives aimed at improving the education system. He underlined that these initiatives involve training personnel who can adapt to new economic realities.

"Since 2017, a digital skills teaching system including startups, pilot projects, and programmes covering 100,000 students has been implemented in Azerbaijan. These educational reforms, including the 'Sabah Hub' programme, aim to develop the potential of the best students and create a community of innovative professionals," he added.

M. Jabbarov also emphasised the importance of openness to foreign experts and investors.

"Azerbaijan actively invests in 'green' energy development projects, with a total capacity of more than 7 gigawatts currently being implemented. To achieve these goals, the interaction and support of all stakeholders play an important role. The state strategy for the development of the digital economy in Azerbaijan includes numerous initiatives aimed at creating an efficient ecosystem for the country's future growth and innovative development," the minister noted.

It should be mentioned that the purpose of this summit, organised by "PASHA Holding," is to contribute to the development of the innovation ecosystem in the country, to connect startups and investors, and to create opportunities for cooperation, as well as to establish a platform for the exchange of ideas and experiences among all participants in the innovation ecosystem.