Jabbarov: Industrial production to be key driver of economy

Industrialization and high value-added services will play a key role in the future development of Azerbaijan's economy.

Report informs that Economy Minister Mikayil Jabbarov said this during a dialogue session with the Chairman of the Board of Directors on "Azerbaijan as a host and connector: green transformation, regional integration and strategic partnership," held as part of the 51st Annual Meetings of the Islamic Development Bank (IsDB) Group.

According to him, the private sector is showing strong interest in the government's industrialization policy.

"In the long term, industrial production and high value-added services will be among the main drivers of the economy," Jabbarov said.

He added that the state program on education abroad, adopted in 2007, played an important role in the development of Azerbaijan's human capital.

"As a result of the program, thousands of young Azerbaijanis had the opportunity to study at leading universities around the world. Today, those graduates contribute to the country's development in the public and private sectors, entrepreneurship and policymaking," he said.