Baku: Azerbaijan is set to introduce a ‘Support Program for the Development of the Digital Economy’ aimed at facilitating the digital transformation of private-sector economic activities. This initiative will be implemented as part of the ‘Strategy for the Development of the Digital Economy of the Republic of Azerbaijan for 2026-2029.’

According to Azeri-Press news agency, the program outlines support mechanisms that will be available to at least 10 enterprises, with an additional 12 enterprises expected to receive assistance for digital transformation and enhanced access to resources. The initiative aims to steadily increase the share of the digital economy within non-oil economic indicators.

The program’s objective is to aid the digital transition of small and medium-sized enterprises (SMEs) and larger companies, enabling them to expand financial resources through grants and concessional loans. Singapore’s ‘Go Digital’ program is highlighted as an international benchmark, where 18,000 SMEs underwent digitalization, resulting in a 3% productivity increase. A similar model in Azerbaijan is anticipated to accelerate digitalization and boost productivity and added value in enterprises.