Baku: In 2022, a legislative provision was adopted in Azerbaijan to grant a special regime to companies operating in the IT sector, and as a result, the number of companies that are now technopark residents has reached approximately 165, Minister of Digital Development and Transport Rashad Nabiyev said during a meeting dedicated to the unified action plan titled 'Azerbaijan's New Digital Architecture,' held under the chairmanship of President Ilham Aliyev, APA-Economics reports.

According to Azeri-Press News Agency, ten of these companies are foreign, contributing to a revenue of around one billion manats in the IT sector. Minister Nabiyev emphasized that this revenue does not fully reflect Azerbaijan's potential in the industry. The minister highlighted that the current export figures in this sector stand at approximately 100 million US dollars. He expressed optimism that with the implementation of measures outlined in the Action Plan, Azerbaijan could significantly increase IT export figures from 100 million to one billion dollars or even higher.