Azerbaijan's innovation agency to focus on improving legislation this year

The activities of the Innovation and Digital Development Agency under Azerbaijan's Ministry of Digital Development and Transport this year will primarily focuse on further improving legislation in the field of innovation, said Chairman Farid Osmanov during a press conference on the results of the agency's activities last year, Report informs.

According to him, work with relevant institutions on draft legislation aimed at expanding venture activities, investment funds, and financial instruments is nearing completion. He also noted that plans are in place to expand technopark activities.

Osmanov said that relevant projects in this area have already been prepared and submitted to the appropriate authorities. Within this framework, efforts are underway to broaden the categories of technopark activities and to consider additional incentive mechanisms.

He emphasized that, alongside infrastructure, knowledge and skills, and human capital, a well-developed legislative framework plays a particularly important role in building a sustainable ecosystem for digitalization and innovation.