Azerbaijan Foresees Allocation Of Loans To Local Start-Ups - Official
Date
6/13/2024 5:23:19 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, June 13. Allocating loans to
Azerbaijani startups is planned as part of the strategy for
developing Azerbaijan's digital economy, Executive Director of the
Center for Analysis and Coordination of the IV Industrial
Revolution (4SIM) Fariz Jafarov said, Trend reports.
He made the statement during the training program on preparation
for exports and foreign investments, "Digital small and
medium-sized enterprises and startups ready to scale," within the
framework of the project "Investments in the Digital Economy of
Azerbaijan" (IDEA), held in Baku.
"As you know, a strategy for the development of Azerbaijan's
digital economy has been developed, including 61 initiatives, among
them nine key projects. Key projects include the creation of
generative artificial intelligence in the Azerbaijani language, as
well as the creation of a technology center for the digitalization
of startups and companies. The strategy includes the allocation of
loans to Azerbaijani startups. These loans can be provided by both
Azerbaijani and foreign organizations. In addition, the strategy
includes a program to export the services of startups to
international markets, which contributes to the integration of
Azerbaijani technologies into the global economy," he stressed.
Furthermore, the strategy for Azerbaijan's digital economy is
expected to be approved and implemented this year. The document was
prepared within the framework of the measure "Development and
realization of the digital economy development strategy" of the
Strategy of Socio-Economic Development of Azerbaijan for
2022-2026.
The Digital Economy Strategy will serve the formation of a
sustainable and competitive digital economy in the country, turning
Azerbaijan into one of the leading countries in this field.
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