Azerbaijan, Singapore partner on SME digitalization with new memorandum

The Agency for Innovation and Digital Development, operating under the Ministry of Transport and Digital Development of Azerbaijan, has signed a Memorandum of Understanding with the Singapore Cooperation Enterprise.

This agreement is set to facilitate the advancement of digitalization efforts for small and medium-sized enterprises (SMEs) in both countries, Caliber.Az reports referencing local media sources.

According to the agency, the memorandum establishes a framework for mutually beneficial cooperation specifically focused on the digital transformation of SMEs. The partnership will include the exchange of knowledge and the development of skills in various areas, including digital public services, as well as the creation of policy and regulatory frameworks to support these initiatives. The aim is to enhance cooperation not only in SME digitalization but also in additional relevant sectors.

It is noteworthy that Singapore has significant experience in the digitalization of SMEs, having actively worked in this area since 2017. The expertise that Singapore brings to the table will be invaluable in helping Azerbaijan improve its digital infrastructure and capabilities for small and medium businesses.

The Agency for Innovation and Digital Development was established following a decree by President Ilham Aliyev on October 11, 2021. It operates as a public legal entity under the Ministry of Digital Development and Transport. The agency’s mission encompasses organizing activities related to the country’s digital transformation, cultivating a local innovation environment, and strengthening the overall ecosystem for innovation.

Among its priority areas, the agency focuses on conducting experimental tests in nuclear science and technology, supporting individuals and legal entities in their innovation-oriented scientific research and startups, assisting in acquiring modern technologies and solutions, and ensuring access to educational and career opportunities in the information and communications technology (ICT) sector. Additionally, it aims to create and organize a digital government and foster a digital society within Azerbaijan.

The signing of this memorandum marks a significant step towards enhancing the capabilities of SMEs in Azerbaijan, leveraging Singapore's extensive experience in the digital landscape to create a more robust and innovative business environment.

By Tamilla Hasanova