Over $1.5mln invested into Azerbaijan’s IT-sector in recent 5 years

Yerevan/Mediamax/. Azerbaijan annually invests $50-60mln into the development of IT-sector from the state budget, Minister of Communication and IT Technologies of Azerbaijan Ali Abasov told RBC daily, Mediamax reports.

He noted that the volume of Information-communication technologies (ICT) sector in Azerbaijan during last 7 years has grown 5 times, constituting nearly $1.5bln, or 3,5% of country’s GDP.

“Direct investments from the state budget make about $50-60mln per year. On the whole, the annual volume of investments in this sphere makes nearly $300mln. $1.5mln has been invested into this sector in recent 5 years.

According to Ali Abasov, “our number one task is to make ICT revenues reach the level of oil export by 2020-2025, and then exceed it.”

“We have the “Virtual zone” project- a so-called regional innovative zone. Azerbaijan is a small country, and we think it would be ideal to turn the whole republic into a “macro-techno park”. The benefits will cover not the territory but definite types of IT-activity. Tax, customs facilities, cheap loans, the whole necessary infrastructure- all these measures should facilitate the business in ICT sphere. Our goal is to expand the export potential of Azerbaijan. We must attract foreign companies and make them open regional offices, representations and production centers here to serve the whole pre-Caucasian region. Hewlett-Packard, Microsoft, Intel, Ericsson, Siemens, and Alcatel- these companies already function in Azerbaijan. Many others look forward to the introduction of benefits.  We are now preparing a convenient environment for them,” Ali Abasov concluded.