ECONOMY
Establishment of State Fund for IT Development to support private sector
Baku, April 26 (AZERTAC). The establishment in Azerbaijan of the State Fund for IT Development will allow the private sector to receive tax and customs concessions, credit and financial support from the state, Communications and IT Minister Ali Abbasov told.
The project is an innovation in ICT. It aims at to develop this sphere in Azerbaijan, increase the country's export potential in this area. Its key objectives are to improve the business environment in the ICT, ensure the flow of foreign capital and improve the country's export potential.
The Fund's primary objectives are to hold public policy of development and support for small enterprises in the scientific and technical industries, and to provide them with direct financial assistance and training, which then creates new jobs.
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