Azerbaijan developing legislation on startups

The idea of digital transformation in Azerbaijan will lead to digitalization in all regions, Deputy Minister of Digital Development and Transport Rovshan Rustamov said at the 5th International Banking Forum on "Cashless Economy: Reliable, Safe and Sustainable" in Baku.

"The ministry I represent wants to apply smart technologies. A startup ecosystem needs to be formed to promote Fintex. We are already preparing a legislative framework and will soon submit it for public discussion. At the root of all this is the Absheron Valley, which will be the national analog of the US Silkon Valley," Rustamov said.