The first day has ended in Baku”INMerge Innovation Summit“, organized PASHA Holding.
As Day.Az reported on Thursday with reference to Trend, the annual summit is aimed at developing the region’s innovation ecosystem, promoting cooperation between startups and investors, as well as providing a platform for the exchange of ideas and experiences between all interested parties.
As the Minister of Economy of Azerbaijan said Mikail Jabbarovthe strategy for the development of the digital economy of Azerbaijan is aimed at creating an effective ecosystem for the further growth and innovative development of the country.
Jabbarov noted that the country’s economy is showing stable growth.
“Over 8 months, GDP increased by 4.7 percent, and growth in the oil and gas sector was 7 percent. Such progress allows us to talk about the future and innovation. For the development of the economy and innovative potential of Azerbaijan, it is important not only to ensure economic growth, but also to invest in human capital “, he said.
In particular, Jabbarov mentioned initiatives aimed at improving the education system, which should prepare personnel capable of adapting to new economic realities.
“Since 2017, Azerbaijan has introduced a digital skills training system, including start-ups, pilot projects and programs reaching hundreds of thousands of students. These educational reforms, including the Sabah Hub program, are aimed at developing the potential of the best students and creating a community of innovative specialists “, he added.
Mikail Jabbarov also noted the importance of openness for foreign specialists and investors.
“Investments in the digitalization of the fiscal system and other innovative solutions have already yielded tangible returns, including a doubling of fiscal revenues in six years,” Jabbarov emphasized.
The Minister pointed to the important role of the energy sector, which is transforming from dependence solely on fossil fuels to renewable energy sources.
“Azerbaijan is actively investing in projects for the development of green energy, and, according to the minister, projects with a total capacity of more than 7 gigawatts are currently being implemented. The key role in achieving the goals is played by the interaction and support of all stakeholders. The state strategy for the development of the digital economy, developed in Azerbaijan, covers many initiatives and is aimed at creating an effective ecosystem for further growth and innovative development of the country,” the minister noted.
Advisor to the Minister of Economy of Azerbaijan Rauf Najafli, in turn, said that the digital development strategy of Azerbaijan will include 51 main initiatives.
According to him, the strategy for the development of the digital economy must be consistent with the methods and ideas of the fourth industrial revolution.
“First of all, we are talking about the transformation of industries and businesses, one of the key steps in this direction will be the creation of a next-generation technology center. The center will play an important role in supporting digital transformation, providing practical training and stimulating innovation in various fields. The experience of Turkey has served “an important landmark for Azerbaijan. The new center will help increase labor productivity in various sectors of the economy by 31 percent,” he said.
The adviser emphasized that one of the next steps will be to improve the regulatory framework to create more favorable conditions for digital innovation.
“The main measures have already been taken, but work continues. Priorities include simplifying the process of creating startups and technology companies, providing tax benefits, as well as protecting intellectual property to attract investment, both local and foreign,” he added.
The advisor called the development of human resources for successful work in the digital economy the third direction of the strategy.
“The key aspect is to train specialists who can effectively use both hardware and software. The hardware part is less complex compared to personnel tasks. As part of these initiatives, we are collaborating with the Ministry of Digital Development and the Center for the Fourth Industrial Revolution, and are also developing projects in the field artificial intelligence,” Najafli emphasized.
General Director of PASHA Holding Jalal Gasimov noted that for PASHA Holding innovation is a symbol of progress.
According to him, PASHA Holding’s mission has always been to create meaningful partnerships and support the development of the ecosystem.
“As one of the leading economic players in the region, we feel responsible for the development of the environment. For us, innovation is not just a concept, but a symbol of progress. We are confident that through this summit we will make a significant contribution to the development of the region’s innovation ecosystem,” noted Gasimov.
He added that PASHA Holding is a large regional conglomerate, and their companies operate in various sectors: financial services, agribusiness, retail, real estate and others.
“We are indeed very diversified. But one thing that all of these industries have in common is the ever-changing needs of customers and increasing competition. New technologies are emerging that allow us to speed up the time to market for products, create new products and services, or build new channels of interaction. We understand the need to continuously improve our products and services and strive to make them available to our customers. At the corporate level, this means introducing effective management mechanisms that will ensure constant attention to innovation in our companies,” Gasimov emphasized.
First Deputy Minister of Digital Technologies of Uzbekistan Olimjon Umarov said that Uzbekistan is calling for increased joint investments in key sectors in Central Asia.
“Uzbekistan’s focus is on regional cooperation, and I would like to note that regional cooperation between our countries is key to realizing the full potential of the new economy. Today, our IT companies, startups, investment and venture funds have already begun cooperation in the region. However, there remains great potential for further development. In order to strengthen regional cooperation, it is necessary to support our companies and business plans aimed at developing cooperation and partnership. Firstly, it is important to develop joint investment projects. increase joint investments in key sectors such as digital technologies, artificial intelligence, development and expansion of startups and IT solutions at the regional level,” he said.
Secondly, he said, there is a need to support online trade by continuing to reduce digital barriers in the trade sector, harmonize regulations and improve processes to facilitate the flow of goods and services in our region.
“And thirdly, this is knowledge sharing and capacity building. We must develop a regional program that will facilitate the exchange of knowledge and experience through joint training programs, scientific research and technology transfer between start-ups, young researchers and developers,” Umarov added.
As part of the event, PashaPay LLC and Azerigaz signed a Memorandum of Understanding.
According to the terms of the memorandum, PashaPay LLC and Azerigaz intend to work together on the digitalization of a number of services provided to citizens and legal entities.
As part of this project, it is planned to create a personal account for Azerigaz clients in the m10 mobile application, as well as the introduction of online services, such as accepting applications and appeals, issuing certificates and other services.
In addition, the project provides for improving the payment experience of users and developing various tools to stimulate payments.
Particular attention will be paid to prompt response to questions and complaints arising when paying for gas supply services, which will be carried out within the framework of public and private partnership.
This cooperation will also expand the access of Azerigaz customers to the services presented in the ecosystem of the m10 mobile application, operated by PashaPay LLC. This will allow users to take advantage of the broad capabilities of the ecosystem and its functionality.
It is worth noting that this cooperation is part of a large-scale digitalization program implemented by Azerigaz, aimed at increasing the level of service to subscribers using modern innovative solutions.
It should be noted that the summit brings together innovators, investors and influential industry leaders from sectors such as fintech, telecommunications, e-commerce and others. INMerge is also a strategic networking hub that allows members to enter into key partnerships, develop collaborations and form international connections with the region’s leaders and innovators.
This year, the Minister of Economy of Azerbaijan Mikail Jabbarov, the Minister of Digital Development and Transport of Azerbaijan Rashad Nabiyev, General Director of PASHA Holding Jalal Gasimov, General Director of Trendyol Group Erdem Inan will speak at the INMerge Innovation Summit. Also confirmed speakers include Steve Chen, co-founder of YouTube, Werner Vogels, VP and CTO of Amazon, and Vladimir Pravdivy, former CEO of Avito. They will be joined by Linda Hill, founder of Paradox Strategies and InnovationForce, professor at Harvard Business School, as well as Ilya Strebulaev, professor at Stanford University.
It should be noted that the INMerge Innovation Summit will continue its work in Baku.