Baku:Azerbaijan's Minister of Finance, Sahil Babayev, recently held a meeting with a delegation from the Digital Cooperation Organization (DCO), led by Secretary-General Deemah AlYahya, to discuss digital transformation and innovation financing in the country.

According to Azerbaijan State News Agency, the discussions centered around funding national digital priorities, enhancing the efficiency of public investments, and exploring innovative financing mechanisms. The meeting also focused on expanding partnerships in digital infrastructure and innovation. Minister Babayev praised the DCO for its role in driving digital transformation and fostering the digital economy and expressed satisfaction with Azerbaijan's membership in the organization.

Minister Babayev highlighted the 'Action Plan for Accelerating Digital Development in the Republic of Azerbaijan for 2026-2028,' which outlines key directions in the country's digital transformation agenda, including priorities such as artificial intelligence, innovation, and cybersecurity. He emphasized the role of the Council on Digital Development, chaired by First Vice-President Mehriban Aliyeva, in coordinating state policy and implementation in these areas.

The Minister also briefed the delegation on the ongoing reforms to digitalize public financial management through the Digital Public Finance information system (RDMIS), which integrates various aspects of budget management, treasury, accounting, and public procurement into a unified digital ecosystem.

Minister Babayev discussed the development of AI-driven solutions within the RDMIS platform, emphasizing the potential of artificial intelligence in financial analysis, risk identification, and decision support. Deemah AlYahya commended Azerbaijan's efforts in digital transformation and expressed the DCO's interest in expanding cooperation in digital development and investment partnerships.

The meeting also addressed the modernization of the treasury system, financing digital transformation projects, and attracting investment, highlighting the importance of mobilizing private capital and international financial resources for digital infrastructure and innovation.