Azerbaijani ministry to present RIZ proposals to president

The Communications and IT Ministry will present a package of proposals on the creation of the Regional Innovation Zone (RIZ) in Azerbaijan to the president in the near future, Minister Ali Abbasov said at a meeting of the Cabinet of Ministers dedicated to the socio-economic development in the first half of 2011 and chaired by President Ilham Aliyev, the official press reported.
He added that a document prepared by an expert group and a consulting company has been reviewed by the relevant bodies. The package was further analyzed. It also reflects the simplified methods for attracting domestic and foreign investment and promotion of the production process.
The establishment of the RIZ in Azerbaijan was named a priority for IT industry development in the country. The RIZ envisages establishing technology parks for small and medium innovative businesses. Abbasov said Azerbaijan is among the top ten on the dynamics of ICT development in the international organizations’ many statistical measures over the past five to seven years. According to these indicators and evaluation of the State Statistical Committee of Azerbaijan, Azerbaijan’s ICT sector is expanding at twice every three years.Moreover, many experts say revenues from the ICT sector in 2020-2025 may be comparable to the income of the oil sector.

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