BAKU, Azerbaijan, January 22. Azerbaijan seeks
to take a aggressive place within the quickly altering world
panorama, the place digital transformation is turning into a key driver of
financial progress, the report of the World Financial Discussion board (WEF)
“Affect Report: Heart for the Fourth Industrial Revolution Community
2023-2024” stated, Pattern studies.
The report notes that the Digital FDI venture started with a
sequence of strategic conferences to outline targets and develop particular
methods.
“As a part of the initiative, surveys and interviews have been
carried out with native and worldwide corporations already working
in Azerbaijan’s digital financial system. The info collected was analyzed
and offered at a workshop on December 4, 2023. The Digital FDI
initiative has already began to have a big influence by
fostering a tradition of innovation and entrepreneurship in
Azerbaijan. The workshops offered information sharing and strategic
assist to assist native corporations adapt to world digital
transformation traits. Corporations and startups obtained sensible
recommendation on assessing their digital readiness and figuring out areas
for enchancment, which elevated their funding attractiveness
and scalability,” the report says.
As famous, one of many key components of the venture was the
creation of the InvesTech calculator, a instrument designed to simplify
funding selections by offering clear info on the standing
of digital investments.
“This instrument performs an essential position within the technique of attracting
overseas direct funding by growing transparency and
simplifying the funding course of,” the report reads.
Azerbaijani Economic system Minister Mikayil Jabbarov, whose phrases are
quoted within the report, famous that the “IDEA: Investing within the
Digital Economic system of Azerbaijan” initiative praised Azerbaijan’s
important progress in creating a positive surroundings for
startups and improvements.
“The report stresses the significance of attracting overseas
funding, activating the non-public sector, selling
digitalization, and implementing related insurance policies to make sure the
socio-economic growth of the nation,” he added.
