Azerbaijan Investment Forum was held in Baku on March 17. The forum was organized by the influential British magazine “The Economist”.
The event brought together officials representing the main fields of the Azerbaijani and global economy, economists and public servants.
Editor of “The Economist” magazine John Andrews highlighted prospects for the development of the non-oil sector as well as ongoing processes in the region and the world.
Speaking at the forum, Minister of Communications and High Technologies of Azerbaijan Ali Abbasov said that oil revenues in Azerbaijan are directed to the development of non-oil sector. As a result, in recent years, the investment in the non-oil sector has doubled.
A 3.5-fold increase has been recorded in the high technologies sector of Azerbaijan over the last five years, said the Minister. Thanks to the expansion of broadband Internet access in the country, 85 percent of the population will have access to these services. In the last 12 years, Azerbaijan has exported goods and products worth $ 41 million in the field of high technologies. The number of active Internet users in the country makes up 72-73 percent, Azerbaijan ranks 49th in the list of active IP, said Ali Abbasov.
The country will launch its third satellite into space in 2017. Our main goal is to provide 95 percent of the country’s population with high-speed Internet access by 2020, the Minister said.
Minister of Education Mikayil Jabbarov provided an insight into progress achieved under “The State Program for education of the Azerbaijani youth abroad in 2007-2015”.
The forum discussed a wide range of topics such as increasing the share of energy and non-oil sectors, innovation, entrepreneurship and the role of technology and telecommunications in the new economic environment, and questions about the sport and training activities.