BAKU, Azerbaijan, May 6. The Strategic Roadmap for the Development of Telecommunications and Information Technologies in Azerbaijan aims to increase the average internet speed of one user in a stable broadband network to 50 Mbps by 2025 and to developed country levels after 2025, the Acting Chairman of the Information and Communication Technologies (ICT) Agency Nail Mardanov said last week, Trend reports.
Deputy Director of the Payment Systems Department of Bank of Baku, Head of the Expert Group on Payment Systems and Digital Banking of the Association of Banks of Azerbaijan (ABA) Tamerlan Rustamov said in an exclusive interview that the country is taking important steps towards phasing out the use of physical payment cards.
The European Investment Bank stated that it would soon finish
assessing the Black Sea underwater internet cable project.
Furthermore, last week, Nataly Mouravidze, head of the European
Bank for Reconstruction and Development (EBRD) regional office in
Azerbaijan, emphasized that support for information technology
development and economic digitalization is rising.
“A new digital platform that allows market participants to issue securities online is helping capital market development, while new tax law benefits the IT industry. Further investment in connectivity, renewable energy legislation and regulation, and non-oil sector investments will lead to sustainable economic diversification and vigorous growth,” added Mouravidze.
A website, COP29.az, was also launched this week in preparation for the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change, which will take place in Azerbaijan in November 2024.
